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Learning by Doing: The Real Connection between Innovation, Wages, and Wealth

by James Bessen , Garamond Agency, Garamond Agency, Inc.

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Learning by Doing: The Real Connection between Innovation, Wages, and Wealth
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Overview

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Learning by Doing: The Real Connection between Innovation, Wages, and Wealth by James Bessen, Garamond Agency, Garamond Agency, Inc.


An important study of the relationship between technology, skills, and economic inequality that answers some of the most pressing economic questions of our time

Today’s great paradox is that we feel the impact of technology everywhere—in our cars, our phones, the supermarket, the doctor’s office—but not in our paychecks. In the past, technological advancements dramatically increased wages, but for three decades now, the median wage has remained stagnant. Machines have taken over much of the work of humans, destroying old jobs while increasing profits for business owners. The threat of ever-widening economic inequality looms, but in Learning by Doing, James Bessen argues that increased inequality is not inevitable.
 
Workers can benefit by acquiring the knowledge and skills necessary to implement rapidly evolving technologies; unfortunately, this can take years, even decades. Technical knowledge is mostly unstandardized and difficult to acquire, learned through job experience rather than in the classroom. As Bessen explains, the right policies are necessary to provide strong incentives for learning on the job. Politically influential interests have moved policy in the wrong direction recently. Based on economic history as well as analysis of today’s labor markets, his book shows a way to restore broadly shared prosperity.

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Product Details
ISBN-13:
9780300195668
9780300195668
Publisher:
Yale University Press
Yale University Press
Publication date:
04/28/2015
Pages:
312
312
Sales rank:
662,593
Product dimensions:
6.20(w) x 9.30(h) x 1.20(d)
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About the Author

About the Author


James Bessen, an economist, is a lecturer at Boston University Law School. He was founder and CEO of a software company that developed the first desktop publishing program.
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Editorial Reviews

Editorial Reviews


“James Bessen’s provocative new book explores a critically important economic question: what is it that in some epochs, including today, severs the link between productivity growth and increases in the median wage? His answer, developed within a rich tapestry of historical narrative, focuses on the changing incentives faced by firms and individuals to invest in new skills and capabilities as technological systems are born, go through adolescence, and eventually mature. His analysis and policy recommendations offer many challenges to established ways of thinking.”—Alexander J. Field, author of A Great Leap Forward: 1930s Depression and US Economic Growth
 

Alexander J. Field
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    Learning by Doing: The Real Connection between Innovation, Wages, and Wealth
    Hardcover (1)
    Learning by Doing: The Real Connection between Innovation, Wages, and Wealth
    Pub. Date: 04/28/2015
    Publisher: Yale University Press
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    Learning by Doing: The Real Connection between Innovation, Wages, and Wealth
    Pub. Date: 04/28/2015
    Publisher: Yale University Press
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