Over the weekend, the Financial Times published my review of Nicholas Eberstadt’s important new book Men Without Work.  The core message is captured in the graph below:
Job destruction caused by technology is not a futuristic concern.  It is something we have been living with for two generations. A simple linear trend suggests that by mid-century about a quarter of men between 25 and 54 will not be working at any moment.
I think this likely a substantial underestimate unless something is done for a number of reasons. First everything we hear and see regarding technology suggests the rate of job destruction will pick up. Think of the elimination of drivers, and of those who work behind cash registers. Second, the gains in average education and health of the workforce over the last 50 years are unlikely to be repeated. Third, to the extent that