Automation Creates Good Jobs

By Bret Swanson

Do technology and automation kill jobs? Or just the reverse?

One of the most alarming trends of the last decade was the precipitous drop in U.S. labor force participation. The decline in the number of employed prime-age men, between the ages of 25 and 54, was especially striking. Five years after the financial crisis began, many analysts considered the possibility that millions of men had permanently left the workforce.

Alarm bells went off. Such a large-scale exit from work would surely cause cascades of wrenching economic and social change — slower economic growth, ballooning budget deficits, and declining health for individuals, families, and communities. Or perhaps this trend was a reflection of poorly understood technological or cultural changes already well underway.

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