Automation and Its Macroeconomic Consequences

Automation and Its Macroeconomic Consequences

Theory, Evidence, and Social Impacts

1st Edition - June 17, 2020

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  • Authors: Klaus Prettner, David Bloom
  • Paperback ISBN: 9780128180280
  • eBook ISBN: 9780128180297

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Automation and Its Macroeconomic Consequences reveals new ways to understand the economic characteristics of our increasing dependence on machines. Illuminating technical and social elements, it describes economic policies that could counteract negative income distribution consequences of automation without hampering the adoption of new technologies. Arguing that modern automation cannot be compared to the Industrial Revolution, it considers consequences of automation such as spatial patterns, urbanization, and regional concerns. In touching upon labor, growth, demographic, and policy, Automation and its Macroeconomic Consequences stands at the intersection of technology and economics, offering a comprehensive portrait illustrated by empirical observations and examples.

Key Features

  • Introduces formal growth models that include automation and the empirical specifications on which the data-driven results rely
  • Focuses on formal modeling, empirical analysis and derivation of evidence-based policy conclusions
  • Considers consequences of automation, such as spatial patterns, urbanization and regional concerns


Upper-division undergraduates, graduate students, researchers, and professionals working in labor economics, development economics, and industrial innovation

Table of Contents

    1. Introduction
    2. The stylized facts
    3. Empirical evidence on the economic effects of automation
    4. A simple macroeconomic framework for analyzing automation
    5. Endogenous savings and extensions of the baseline model
    6. Automation as a potential response to the challenges of demographic change
    7. Policy challenges
    8. Peering into the future: long-run economic and social consequences of automation; with an epilogue on COVID-19

Product details

  • No. of pages: 248
  • Language: English
  • Copyright: © Academic Press 2020
  • Published: June 17, 2020
  • Imprint: Academic Press
  • Paperback ISBN: 9780128180280
  • eBook ISBN: 9780128180297

About the Authors

Klaus Prettner

Klaus Prettner is professor of economics with a focus on growth and distribution at the University of Hohenheim and speaker of the research network “Inequality and Economic Policy Analysis (INEPA)”. His main areas of interest are the economic consequences of automation and the interrelations between economic growth and inequality. Prettner received a Ph.D. in Economics from the University of Vienna in 2009. He has published his research in journals such as Journal of Monetary Economics, Economic Journal, Journal of Economic Growth, Journal of Health Economics, Research Policy, Journal of Urban Economics, Health Affairs, Economic Theory, Economica, and the Journal of Economic Behavior & Organization.

Affiliations and Expertise

Professor of Economics, University of Hohenheim, Stuttgart, Germany

David Bloom

David E. Bloom is Clarence James Gamble Professor of Economics and Demography at the Harvard T.H. Chan School of Public Health. He is also Research Associate at the National Bureau of Economic Research and Research Fellow at IZA – Institute of Labor Economics. Bloom received a B.S. in Industrial and Labor Relations from Cornell University in 1976 and a Ph.D. in Economics and Demography from Princeton University in 1981. Bloom previously served on the public policy faculty at Carnegie-Mellon University and on the economics faculties at Harvard University and Columbia University. In recent years, he has written extensively on the links among health, education, population, and labor, and on economic valuation.

Affiliations and Expertise

Harvard T.H. Chan School of Public Health, Boston, MA, USA

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  • Vadim Wed Mar 17 2021

    Written with love to humans and with respect to robots!

    This is an excellent book summarizing the recent contributions in economic literature on the macroeconomic implications of automation with a detailed analysis of the advantages and challenges related to it. I would highly recommend this book for graduate and post graduate courses - even for those outside of academia it offers exceptional and vivid insights on automation and it's role in the long-run economic and social development.