When it comes to our automated future, a common refrain is that while automation will elimination some jobs, it will lead to growth overall. You need someone to lube up the robots' joints, after all, and someone to teach machines how to learn. Last year, for example, researchers found that an increasingly automated economy would "self-correct," creating new, more complex jobs and keeping wages and equality relatively stable.
Turns out, the data points the opposite direction. In a new paper, the same two researchers, Daron Acemoglu and Pascual Restrepo, looked at the actual evidence form U.S. labor markets and found that increased automation reduced employment and wages. So, what does this mean for the future? And more importantly, what does this mean for legal professionals?