Robert Shiller Unwittingly Helps Write The Obituary Of Economics As A Profession
John Tamny,Forbes
Robert Shiller predicted in a recent New York Times piece that economic inequality “could become a nightmare in the decades ahead.” He believes that the very economic evolution that has always led to higher living standards for all “could lead us into a world in which basic work with decent pay becomes impossible to find.” Shiller cites the proliferation of robots to allegedly bolster the previous statement. To see why Shiller is promoting know-nothingness and alarmism over serious thought, readers need only consider Henry Ford, the late Steve Jobs and computer entrepreneur Michael Dell. Inequality isn’t a catastrophe, rather when it’s on the rise the lifestyle gap between rich and poor is in decline. ...
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