Book: The Challenges Of Growth Flashcards
What are general purposes technologies
Foundational Tech with many applications
What are the diffusion of technologies
When a foundational technology is discovered it slowly gets adapted to many new purpouses
What is technological unemployment
As technology develops it makes some jobs obsolete although it often leads to new jobs. Almost always productivity growth leads to increased employment
What is meant by the churn and the creative destruction of growth
That existence in a growing economy is a constant fight against obsolescence
Who have benefited most from the recent technological developments
The capitalists and the highly educated, collage has been required to keep pace leading to greater wage and wealth inequality
What are the reasons for the increased wage inequality in the us
Cheaper unskilled labor from outside and skill-biased technological progress
What is the gini coefficient
A measure of inequality ranging from 0 to one, most economies are between 0.2 and 0.6. Higher is more unequal
What is a proposed solution to climate change
A carbon tax for the willing and a carbon tariff for those who are not
