It's hard to open a magazine these days without reading a scary story about how automation is going to take everyone's jobs. But what I do know is the attention these stories get and the plausibility assigned to them are both biased up by the demand for scare stories about the labor market. This caused quite a buzz at the time, and was a lot like the automation scare we're seeing today. Labor markets aren't back to full health yet, but the big labor market story over the last decade is the Great Recession, and to a lesser extent the continued decline of manufacturing. It hasn't been about a mass offshoring of service sector jobs.

Source: Forbes February 25, 2018 20:26 UTC