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Posts Tagged ‘Skidelsky’

Racing the Machine

Posted by hkarner - 26. Dezember 2017

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

Economists have always believed that previous waves of job destruction led to an equilibrium between supply and demand in the labor market at a higher level of both employment and earnings. But if robots can actually replace, not just displace, humans, it is hard to see an equilibrium point until the human race itself becomes redundant.

LONDON – Dispelling anxiety about robots has become a major preoccupation of business apologetics. The commonsense – and far from foolish – view is that the more jobs are automated, the fewer there will be for humans to perform. The headline example is the driverless car. If cars can drive themselves, what will happen to chauffeurs, taxi drivers, and so on?

Economic theory tells us that our worries are groundless. Attaching machines to workers increases their output for each hour they work. They then have an enviable choice: work less for the same wage as before, or work the same number of hours for more pay. And as the cost of existing goods falls, consumers will have more money to spend on more of the same goods or different ones. Either way, there is no reason to expect a net loss of human jobs – or anything but continual improvements in living standards. Den Rest des Beitrags lesen »

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Inconvenient Truths About Migration

Posted by hkarner - 23. November 2017

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

Standard economic theory says that net inward migration, like free trade, benefits the native population after a lag. But recent research has poked large holes in that argument, while the social and political consequences of open national borders similarly suggest the appropriateness of immigration limits.

LONDON – Sociology, anthropology, and history have been making large inroads into the debate on immigration. It seems that Homo economicus, who lives for bread alone, has given way to someone for whom a sense of belonging is at least as important as eating.

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Germany’s Hour

Posted by hkarner - 19. September 2017

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

For the European Union to work, its strong members must be prepared to show solidarity with its weak members. And as long as Germany, the strongest of them all, opposes creating some mechanism to realize this imperative, the EU will limp from crisis to crisis – probably shedding members along the way.

Germany is the EU’s most populous state and its economic powerhouse, accounting for over 20% of the bloc’s GDP. Determining why Germany has been so economically successful appears to be elusive. But three unique features of its so-called Rhineland model stand out. Den Rest des Beitrags lesen »

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A Trip Through Putin Country

Posted by hkarner - 17. August 2017

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The Protocols of Donald J. Trump

Posted by hkarner - 19. Juli 2017

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Britain’s Deepening Confusion

Posted by hkarner - 20. Juni 2017

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The Varieties of Populist Experience

Posted by hkarner - 18. Mai 2017

 

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Russia’s Nonprofit Spies

Posted by hkarner - 30. März 2017

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Economists in Denial

Posted by hkarner - 24. Februar 2017

Photo of Robert Skidelsky

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