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Automation and its Macroeconomic Consequences - 1st Edition - ISBN: 9780128180280

Automation and its Macroeconomic Consequences

1st Edition

Theory, Evidence, and Social Impact

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Authors: Klaus Prettner David Bloom
Paperback ISBN: 9780128180280
Imprint: Academic Press
Published Date: 26th June 2020
Page Count: 272
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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. Stylized Facts to be Explained
    3. Empirical Evidence about the Economic Effects of Automation
    4. A Baseline Macroeconomic Model for the Age of Automation
    5. Extensions of the Baseline Model
    6. Automation as a Potential Solution to the Challenges of Demographic Change
    7. Political Challenges
    8. The Way into the Future: Long-Run Economic and Social Consequences of Automation


No. of pages:
© Academic Press 2020
26th June 2020
Academic Press
Paperback ISBN:

About the Authors

Klaus Prettner

Klaus Prettner is Professor of Economics (especially Economic Growth and Distribution) at the University of Hohenheim. He has previously worked as Assistant Professor of Dynamic Macroeconomics at the Vienna University of Technology, as Assistant Professor of Macroeconomics and Development at the University of Göttingen, as a postdoctoral research fellow at the Harvard Center for Population and Development Studies, and as a research scientist at the Austrian Academy of Sciences. His main areas of interest are the economic consequences of automation, the interrelations between economic growth and inequality, and the impact of demographic change on long-run economic growth. He has published his research in journals such as Journal of Monetary Economics, Journal of Economic Growth, Journal of Health Economics, Research Policy, Journal of Urban Economics, Health Affairs, Economic Theory, and the Journal of Economic Behavior & Organization. Klaus Prettner obtained his Ph.D. in Economics in 2009 at the University of Vienna and his Habilitation in Mathematical Economics at the Vienna University of Technology in 2014.

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 in the Department of Global Health and Population, Harvard School of Public Health. Dr. Bloom is an economist whose work focuses on health, demography, education, and labor. In recent years, he has written extensively on primary, secondary, and tertiary education in developing countries and on the links among health status, population dynamics, and economic growth. Dr. Bloom has published over 300 articles, book chapters, and books.Dr. Bloom has previously been a member of the public policy faculty at Carnegie-Mellon University and the economics faculty at Columbia University and Harvard University. He currently serves as a Faculty Research Associate at the National Bureau of Economic Research and is a member of the Board of Directors of PSI and of the Board of Trustees of amfAR, the Foundation for AIDS Research. Dr. Bloom also serves as Director of Harvard’s Program on the Global Demography of Aging. In April 2005, Dr. Bloom was elected Fellow of the American Academy of Arts and Sciences. Dr. Bloom received a BS in Industrial and Labor Relations from Cornell University in 1976 and a PhD in Economics and Demography from Princeton University in 1981.

Affiliations and Expertise

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

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