"Power & Progress": Professor Daron Acemoglu
ROCKING OUR PRIORS
00:00
The Importance of Demand in the Economy
New tasks are what Keynes missed and he got so many things right. He was bang on target about how much productivity growth there would be in the next eight years. What he missed is that as automation was taking place and technological improvements were increasing average productivity, the economy was also creating a lot of new tasks. It wasn't like the demand drew the new tasks together with it.
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