“We were lucky and steadily rising productivity raised all boats for much of the 20th century,” he says. “Many people, especially economists, jumped to the conclusion that was just the way the world worked. I used to say that if we took care of productivity, everything else would take care of itself; it was the single most important economic statistic. But that’s no longer true.” He adds, “It’s one of the dirty secrets of economics: technology progress does grow the economy and create wealth, but there is no economic law that says everyone will benefit.” In other words, in the race against the machine, some are likely to win while many others lose.
Moonlighting is the practice of holding an additional job or jobs, often at night, in addition to one’s main job, usually to earn extra income. A person who moonlights may have little time left for sleep or leisure activities.
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To be sure, Autor says, computer technologies are changing the types of jobs available, and those changes “are not always for the good.” At least since the 1980s, he says, computers have increasingly taken over such tasks as bookkeeping, clerical work, and repetitive production jobs in manufacturing—all of which typically provided middle-class pay. At the same time, higher-paying jobs requiring creativity and problem-solving skills, often aided by computers, have proliferated. So have low-skill jobs: demand has increased for restaurant workers, janitors, home health aides, and others doing service work that is nearly impossible to automate. The result, says Autor, has been a “polarization” of the workforce and a “hollowing out” of the middle class—something that has been happening in numerous industrialized countries for the last several decades. But “that is very different from saying technology is affecting the total number of jobs,” he adds. “Jobs can change a lot without there being huge changes in employment rates.”

Jump up ^ John Reid Blackwell (October 18, 2011). “Snagajob snags top place to work award – Richmond Times Dispatch: Metro-Richmond’s Latest Business & Economic News”. .timesdispatch.com. Retrieved June 4, 2013.
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Even our fears about automation and computerization aren’t new; they closely echo the anxieties of the late 1950s and early 1960s. Observers then too were convinced that automation would lead to permanent unemployment. The Ad Hoc Committee on the Triple Revolution—a group of scientists and thinkers concerned about the impact of what was then called cybernation—argued that “the capability of machines is rising more rapidly than the capacity of many human beings to keep pace.” Cybernation “has broken the link between jobs and income, exiling from the economy an ever-­widening pool of men and women,” wrote W. H. Ferry, of the Center for the Study of Democratic Institutions, in 1965. Change “cybernation” to “automation” or “AI,” and all that could have been written today.
Despite the labor-saving potential of the robots, Mick Mountz, Kiva’s founder and CEO, says he doubts the machines have put many people out of work or will do so in the future. For one thing, he says, most of Kiva’s customers are e-commerce retailers, some of them growing so rapidly they can’t hire people fast enough. By making distribution operations cheaper and more efficient, the robotic technology has helped many of these retailers survive and even expand. Before founding Kiva, Mountz worked at Webvan, an online grocery delivery company that was one of the 1990s dot-com era’s most infamous flameouts. He likes to show the numbers demonstrating that Webvan was doomed from the start; a $100 order cost the company $120 to ship. Mountz’s point is clear: something as mundane as the cost of materials handling can consign a new business to an early death. Automation can solve that problem.
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“The sustained interest in blockchain jobs is perhaps a sign that job seekers believe non-financial companies will pursue blockchain applications, even if financial companies see cryptocurrencies as a fad,” the company writes in the report.
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Now imagine you’re an economist back on the ground, and a panic­stricken software engineer is warning that his creations are about to plow everyone straight into a world without work. Just as surely, there are a couple of statistical instruments you know to consult right away to see if this prediction checks out. If automation were, in fact, transforming the US economy, two things would be true: Aggregate productivity would be rising sharply, and jobs would be harder to come by than in the past.
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One of the friendlier, more flexible robots meant to work with humans is Rethink’s Baxter. The creation of Rodney Brooks, the company’s founder, Baxter needs minimal training to perform simple tasks like picking up objects and moving them to a box. It’s meant for use in relatively small manufacturing facilities where conventional industrial robots would cost too much and pose too much danger to workers. The idea, says Brooks, is to have the robots take care of dull, repetitive jobs that no one wants to do.
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If automation were truly remaking the job market, you’d also expect to see a lot of what economists call job churn as people move from company to company and industry to industry after their jobs have been destroyed. But we’re seeing the opposite of that. According to a recent paper by Robert Atkinson and John Wu of the Information Technology and Innovation Foundation, “Levels of occupational churn in the United States are now at historic lows.” The amount of churn since 2000—an era that saw the mainstreaming of the internet and the advent of AI—has been just 38 percent of the level of churn between 1950 and 2000. And this squares with the statistics on median US job tenure, which has lengthened, not shortened, since 2000. In other words, rather than a period of enormous disruption, this has been one of surprising stability for much of the American workforce. Median job tenure today is actually similar to what it was in the 1950s—the era we think of as the pinnacle of job stability.
McAfee, associate director of the MIT Center for Digital Business at the Sloan School of Management, speaks rapidly and with a certain awe as he describes advances such as Google’s driverless car. Still, despite his obvious enthusiasm for the technologies, he doesn’t see the recently vanished jobs coming back. The pressure on employment and the resulting inequality will only get worse, he suggests, as digital technologies—fueled with “enough computing power, data, and geeks”—continue their exponential advances over the next several decades. “I would like to be wrong,” he says, “but when all these science-fiction technologies are deployed, what will we need all the people for?”
IBM likes to call it cognitive computing. Essentially, Watson uses artificial-­intelligence techniques, advanced natural-language processing and analytics, and massive amounts of data drawn from sources specific to a given application (in the case of health care, that means medical journals, textbooks, and information collected from the physicians or hospitals using the system). Thanks to these innovative techniques and huge amounts of computing power, it can quickly come up with “advice”—for example, the most recent and relevant information to guide a doctor’s diagnosis and treatment decisions.
This anxiety about automation is understandable in light of the hair-raising progress that tech companies have made lately in robotics and artificial intelligence, which is now capable of, among other things, defeating Go masters, outbluffing champs in Texas Hold’em, and safely driving a car. And the notion that we’re on the verge of a radical leap forward in the scale and scope of automation certainly jibes with the pervasive feeling in Silicon Valley that we’re living in a time of unprecedented, accelerating innovation. Some tech leaders, including Y Combinator’s Sam Altman and Tesla’s Elon Musk, are so sure this jobless future is imminent—and, perhaps, so wary of torches and pitchforks—that they’re busy contemplating how to build a social safety net for a world with less work. Hence the sudden enthusiasm in Silicon Valley for a so-called universal basic income, a stipend that would be paid automatically to every citizen, so that people can have something to live on after their jobs are gone.
In December of last year, Indeed also provided CoinDesk with data regarding blockchain jobs posted. The report indicated that the number of blockchain jobs posted in the U.S. had increased by 207 percent since 2016, and by 631 percent since November 2015.
That robots, automation, and software can replace people might seem obvious to anyone who’s worked in automotive manufacturing or as a travel agent. But Brynjolfsson and McAfee’s claim is more troubling and controversial. They believe that rapid technological change has been destroying jobs faster than it is creating them, contributing to the stagnation of median income and the growth of inequality in the United States. And, they suspect, something similar is happening in other technologically advanced countries.
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Techniques using vast amounts of computational power have gone a long way toward helping robots understand their surroundings, but John Leonard, a professor of engineering at MIT and a member of its Computer Science and Artificial Intelligence Laboratory (CSAIL), says many familiar difficulties remain. “Part of me sees accelerating progress; the other part of me sees the same old problems,” he says. “I see how hard it is to do anything with robots. The big challenge is uncertainty.” In other words, people are still far better at dealing with changes in their environment and reacting to unexpected events.
However, Indeed reports that interest in blockchain-related roles has endured, with the search term garnering 47 searches per million at the time of the report – only slightly lower than during its February high.
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