Widely acclaimed as one of the world's most influential economists, Tyler Cowen returns with his groundbreaking follow-up to the "New York Times" bestseller "The Great Stagnation." The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom. The global labor market is ...
Widely acclaimed as one of the world's most influential economists, Tyler Cowen returns with his groundbreaking follow-up to the "New York Times" bestseller "The Great Stagnation." The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom. The global labor market is changing radically thanks to growth at the high end--and the low. About three quarters of the jobs created in the United States since the great recession pay only a bit more than minimum wage. Still, the United States has more millionaires and billionaires than any country ever, and we continue to mint them. In this eye-opening book, renowned economist and bestselling author Tyler Cowen explains that phenomenon: High earners are taking ever more advantage of machine intelligence in data analysis and achieving ever-better results. Meanwhile, low earners who haven't committed to learning, to making the most of new technologies, have poor prospects. Nearly every business sector relies less and less on manual labor, and this fact is forever changing the world of work and wages. A steady, secure life somewhere in the middle--average--is over. With The Great Stagnation, Cowen explained why median wages stagnated over the last four decades; in "Average Is Over "he reveals the essential nature of the new economy, identifies the best path forward for workers and entrepreneurs, and provides readers with actionable advice to make the most of the new economic landscape. It is a challenging and sober must-read but ultimately exciting, good news. In debates about our nation's economic future, it will be impossible to ignore.
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Publishers Weekly, 2013-07-08 Economist Cowen's muddled follow-up to The Great Stagnation, is mired in the incantation that human intuition must be sublimated to computer algorithms if we are to overcome America's dearth of innovation-which the author blames for our shrinking economy. He glibly dismisses chronic unemployment with the statement that these "regular losers" were going to become obsolete anyway, but the good news is that, in his cheerfully libertarian laissez-faire economic model, costs will plummet as automation eliminates workers, and corporations pass the savings to consumers. What is left for human workers is a vision in which they toil in submissive tandem with machines, providing their scant human abilities to augment the superior judgment of computers. Philip K. Dick could not have crafted a more surreal vision than Cowen's picture of a Siriesque consultant directing our choices in everything from love to medical care. Unfortunately, Cowen relies upon chapter after chapter about computerized chess ("What Games Are Teaching Us") as support for his arguments, and neglects to provide evidence of how anyone's life will become better, or how prosperity can emerge from this approach. Agent: Teresa Hartnett, Hartnett Agency. (Sept.) (c) Copyright PWxyz, LLC. All rights reserved.
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