Category Archives: Macroeconomic policy

Jobless Recoveries: Exploring Technology’s Role

Recoveries from recessions in the US used to involve rapid job generation, but job growth has failed to match GDP recovery after recent US recessions. This column examines the role of technology in this and asks whether jobless recoveries are a wider problem outside of the US. In the US, industries that are more prone to technological change experienced slower job growth during recent recoveries, but it appears unlikely that modern technologies are causing jobless recoveries outside of the US. This poses a puzzle as to the nature of recent jobless US recoveries.


Michael Hudson: Review of Steve Keen’s “Can We Avoid Another Financial Crisis?”

Steve Keen’s book is a compact, layperson friendly evisceration of mainstream economics and efforts to defend banks at the expense of citizens.


Do We Understand the Impact of Artificial Intelligence on Employment?

Artificial intelligence is already transforming the world of work, but the future is hard to predict. Some see most jobs at risk of automatisation, while others argue robots will only take on a narrow range of tasks in the coming decades. Nevertheless, we need a broad debate to prepare the appropriate economic policy response to the new industrial revolution.