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The Technology Trap: Capital, Labor and Power in the Age of Automation

9780691210797
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The Technology Trap is a sweeping account of the history of technological progress and how it has radically shifted the distribution of economic and political power among society’s members. As Carl Benedikt Frey shows, the Industrial Revolution created unprecedented wealth and prosperity over the long run, but the immediate consequences of mechanization were devastating. Middle-income jobs withered, wages stagnated, the labor share of income fell, profits surged, and economic inequality skyrocketed. These trends broadly mirror those in our current age of automation. But, just as the Industrial Revolution eventually brought about extraordinary benefits for society, artificial intelligence systems have the potential to do the same. The Technology Trap demonstrates that in the midst of another technological revolution, the lessons of the past can help us to more effectively face the present.

Cover:
Paperback
Edition Number:
1
ISBN:
9780691210797
Pages:
488
Author:
Frey Carl Benedikt
Publisher:
PRINCETON UNIVERSITY PRESS
Release Year:
2020

Carl Benedikt Frey is the Oxford Martin Citi Fellow and codirector of the Oxford Martin Programme on Technology and Employment at the Oxford Martin School, University of Oxford. Twitter @carlbfrey

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