https://www.bloomberg.com/view/articles/2017-06-15/the-robot-takeover-is-greatly-exaggerated
That closer look was taken by Lawrence Mishel and Josh Bivens of the Economic Policy Institute, a think tank. In a long essay, they examine the Acemoglu and Restrepo paper in detail. They note that the two economists find that capital investment, and use of computers specifically, tend to increase jobs. As Acemoglu and Restrepo themselves wrote:
[Our results] suggest that other types of capital equipment and even computers tend to increase the demand for labor. This result underscores the possibility — though certainly does not prove — that industrial robots might have a very different impact on employment and wages than other types of recent technologies.
“Robots,” you see, are actually a very narrowly defined type of automation. Most automated- production technologies, from self-checkout kiosks to machine-learning algorithms to automated phone-answering machines, might be called “robots” in common parlance, but the definition of robot used by Acemoglu and Restrepo is limited to fully autonomous multipurpose machines with no human operators. If these machines are one of only a few kinds of automation that are causing job losses, and other forms of automation are complementing human beings and creating new jobs, the labor market is probably in good shape.
Mishel and Bivens also give some other reasons to be skeptical of Acemoglu and Restrepo’s findings. They note that workers haven’t been changing occupations as much as they did in past decades — if people were losing their jobs to automation at a faster rate, we’d expect them to have to retrain more frequently.
Mishel and Bivens note that productivity growth and corporate investment in information technology has fallen, which also doesn’t fit with a story of accelerating automation. And they show that according to Acemoglu and Restrepo’s own estimation, the negative impact of Chinese competition on U.S. jobs was more than three times larger than the effect of robots.
This is quite a convincing rebuttal. It seems clear that the economics press has overplayed the Acemoglu and Restrepo paper. In part, this is probably because of a general anxiety about new technology and automation, which happens in the wake of any big technological revolution. And the fact that the paper had the word “robots” in the title, which just happens to be a trendy buzzword, likely didn’t help.
As I said, this doesn’t mean automation will never be a concern. But as of today, technology remains good for human employment. Which means automation is far, far down on the list of problems to be confronted.