David Autor Quotes
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Markets are, in many settings, self-organizing and 'efficient' in terms of maximizing the welfare of both buyers and sellers.
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We have too few college graduates. We also have too few people who are prepared for college.
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If you think about it, many of the great inventions of the last 200 years were designed to replace human labor. Tractors were developed to substitute mechanical power for human physical toil.
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Jobs can change a lot without there being huge changes in employment rates.
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The long-term policies that will be most effective all have to do with investment: investing in ourselves, investing in opportunities, creating good schools, and creating situations where people can acquire skills that enable them to be successful.
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The U.S. tends to export high-tech goods because we have strong comparative advantage there, and we tend to import labor-intensive and less skill-intensive goods that other countries can do more cheaply.
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I think we labor economists like to think of ourselves as being closer to the people.
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The end of the 'tech bubble' in the year 2000 is, of course, widely recognized, as the NASDAQ stock index erased three-quarters of its value between 2000 and 2003.
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Work is what structures adults' lives: it gives us purpose, focus, a set of responsibilities, and an identity. So when people are not participating in the labour market, all sorts of other things often start to go wrong.
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People tend to think about trade as if it's competition between companies - if Apple wins, Google loses. But that's false. Trade makes nations better off in general. Now, I want to be clear. I'm not saying that everything about trade is good and beneficial. Trade also has costs.
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There was a great sag in employment beginning in 2000.
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Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market.
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The fact that people are dropping out of the labour force says one of two things: either employers have no use for them, or they have no use for the jobs that are being offered at the wages they can command.
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I'm a professor of economics and associate head of the MIT Department of Economics.
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Manufacturing value chains are global. Many U.S.-made goods have foreign components. Slapping on tariffs will raise prices and slow imports, but it will make us poorer and impede growth.
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Labor is getting a shrinking slice of a pie that's not growing very much.
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History has suggested that the pessimists have been wrong time and time again.
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There's a reason I write articles and go out for good dinners: because I'm better at research than cooking. And there are people who are much better at cooking than research, so it's mutually beneficial for us to specialize.
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Workers are basically supervisors of machines.
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Workers and jobs are naturally heterogeneous, and the quality of their interaction when paired is difficult to forecast.