Paul Krugman attacks one of the major themes of Tom Friedman.

Paul Krugman attacks one of the major themes of Tom Friedman. Round one to Krugman. Can Friedman get up off the mat and reply.

Krugman writes: “You see, writing and talking breathlessly about how technology changes everything might seem harmless, but, in practice, it acts as a distraction from more mundane issues — and an excuse for handling those issues badly. If you go back to the 1930s, you find many influential people saying the same kinds of things such people say nowadays: This isn’t really about the business cycle, never mind debates about macroeconomic policy; it’s about radical technological change and a work force that lacks the skills to deal with the new era.

And then, thanks to World War II, we finally got the demand boost we needed, and all those supposedly unqualified workers — not to mention Rosie the Riveter — turned out to be quite useful in the modern economy, if given a chance.”

A growing number of economists, looking at the data on productivity and incomes, are wondering if the technological revolution has been greatly overhyped.
nytimes.com|By Paul Krugman

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