Peter Lindert, an economist at the University of California-Davis, says computers are more disruptive than earlier innovations because they are "general-purpose technologies" used by all kinds of companies. They upend many industries instead of just a few. The mechanized looms the Luddites hated in England in the early 1800s, for instance, rattled one industry. Information technology touches every business.The changes are coming much faster this time, too. Lindert says that's showing up in the steep drop in prices for some products this time.
Will Smart Machines Create A World Without Work?
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