The Winds of Change
The Memo by Howard Marks
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The Impact of Technology on the Economy
With automation and artificial intelligence, productivity is going to go up dramatically. And with productivity increases comes more wealth creation and more gDP creation. So what it will mean is that the traditional g d p numbers we are seeing are going to be very low, and growth will seem very scarce. There will be a lot of job displacement, there will be no question about it.
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