Saving for the machines
From Jesús Fernández-Villaverde: When machines can perform a growing share of tasks, growth depends on two margins: how the task structure affects the returns to accumulating machines, and how strongly capital accumulation responds to those returns. I argue that, in a standard task model, capital supply governs the size of the growth boom associated with automation, […] The post Saving for the machines appeared first on Marginal REVOLUTION. CommentsStagnant wages in America, a low savings rat...
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Marginal Revolution (United States) | Oct 20, 2026
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