As automation increasingly takes over our economy, what will be the impact on economics?
Adair Turner has given a fascinating lecture on the topic, called Capitalism in the Age of Robots. His lecture is available here.
Focusing on the impact of robotics on work, income and wealth in the 21st century, he goes as far as pondering whether the “very concept of an ‘economy’ or of ‘economics’…[will] have any meaning in a world where, eventually, all human work activities can be automated.”
A fascinating lecture, and a topic to keep an eye on as technology develops.
Any questions please contact Tim Cowen.