David Autor on the Future of Work and Polanyi's Paradox
EconTalk
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The Elasticity of Demand for Personal Services
The supply of labor to those activities is potentially very elastic because there's almost no barrier to entry, people can do them and be productive really rapidly. So we have seen growth in personal services, but only in the 90s when labor markets were extremely tight. The actual implications for who earns what are mediated through the other general equilibrium forces that tend to benefit the high skilled.
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