James Bessen cited in the Wall Street Journal on the effects of investment in proprietary IT and software.
Tag: Information Technology
James Bessen and Cesare Righi
New research on the effects of large IT investments on employment and productivity.
Robert Seamans interviewed by the American Enterprise Institute on AI and the economy.
Morgan R. Frank, David Autor, James E. Bessen, Erik Brynjolfsson, et al.
New research analyzing the barriers that inhibit accurately measuring the effects of AI and automation on the future of work and developing a decision framework that focuses on resilience to unexpected scenarios.
Nicolas Crouzet, Apoorv Gupta, and Filippo Mezzanotti
A new study suggests that the Indian demonetization in 2016 spurred more rapid adoption of electronic payment systems.
James Bessen and Walter Frick in Harvard Business Review
Kristina McElheran cited in Harvard Business Review
James Bessen in the Wall Street Journal
Across all major sectors of the economy, proprietary information technology is increasing the market dominance of large firms, which is evidence of a slowdown in the spread of technical knowledge throughout the economy. The result is rising industry concentration, slower productivity growth and growing wage inequality. The key challenge to IP and antitrust policy will be counter this trend yet maintain innovation incentives.
Will industries use new information technologies to eliminate jobs? Sometimes productivity-enhancing technology increases industry employment instead. In manufacturing, jobs grew along with productivity for a century or more; only later did productivity gains bring declining employment. What changed? Markets became saturated.
Research Summary: Why Isn’t Automation Creating Unemployment?