Monday, January 2, 2017

NOBEL ECONOMIST: 'I don’t think globalisation is anywhere near the threat that robots are'

Via Billy

British-born economist Angus Deaton of Princeton University speaks in a news conference after winning the 2015 economics Nobel Prize on the Princeton University campus in Princeton, New Jersey October 12, 2015. Deaton has won the 2015 economics Nobel Prize for his work on consumption, poverty and welfare that has helped governments to improve policy through tools such as household surveys and tax changes. The Royal Swedish Academy of Sciences said the microeconomist's work had been a major influence on policy making, helping for example to determine how different social groups are affected by specific changes in taxation.

A Nobel Prize-winning economist has warned that the rise in robotics and automation could destroy millions of jobs across the world.

Angus Deaton, who won the Nobel Prize last year for his work on health, wealth, and inequality, told the Financial Times he believes robots are a much greater threat to employment in the US than globalisation.


  1. Economist obviously thinks the purpose of workers are to get paid, not to produce.