Economists regularly get things wrong across a wide swath of topics, and this is no exception.
Automation has been happening since the beginning of time…outsourcing manufacturing to low wage countries is a relatively recent phenomenon.
Warren got it right.
— BovineObserver (@BovineObserver) October 16, 2019
Yes. That AP “fact check” is absolute garbage and doesn’t at all match up with the best studies of the issue. Automation is not (yet) the principal problem. It is corporate power and offshoring of jobs.
Or as Matt Stoller says:
Aside from being largely bullshit, this claim is so insulting to the hundreds of thousands of Americans who ***trained their foreign replacements.*** https://t.co/Z4HdMmVVA2
— Matt Stoller (@matthewstoller) October 16, 2019
What the crap do economists know, anyway? They’ve been wrong about everything for the past 50 years, and continue to be wrong today.