Part 3 of a Discussion of Peter Foster’s Why We Bite the Invisible Hand Chapter 8 “Do-It-Yourself Economics” Last blog, I covered how Foster delved into many of the cognitive biases that interfere with our ability to understand modern economics. Now, I want to focus on one cognitive bias I…
Tag: Technology
Macroeconomics
More Robots Mean More Riots?
A Discussion of “Rage Against the Machines: Labor-Saving Technology and Unrest in Industrializing England” “Machines are going to take all the jobs,” is a sentiment I hear and read often. As an economist, I know this is not true. There will be disruption. Some jobs will be lost. Some jobs…