Monthly Archives: July 2013

The X-factor for Unemployment Rates

With unemployment staying fairly high and steady, despite massive economic stimulus, many are wondering what it will take to create more good jobs in America.  One explanation is simply that the fastest growing and most innovative American firms simply don’t need all that many employees.  Even industries that have historically needed lots of workers are becoming automated.  An excellent book that explores this theme is Race Against the Machine, by two professors at MIT.  An article that provides a summary of the book’s thesis is available here. Continue reading