The multiplier is at least two
Interesting stuff (from Krugman and Nick Rowe) on wage shares & capital biased technical change (which combined with observed low interest rates implies either payments to some other factor or monopoly rents): Robots and Robber Barons, Rise of the robots, Capital-biased technical change vs low interest rates? Technology or monopoly power? Technology and wages, the analytics (wonkish), Human versus physical capital, Production of robots by means of robots
This post is also on the same topic but from a heterodox view, Krugman promoting zombie horror, not SF futures. I need to read and understand this stuff.And Chris Dillow has related stuff: On wage and profit shares & Inequality: power vs human capital
I like attempts to make links and/or analogies between economics and biology/ecology: Darwin = Malthus + Sebright? Diffusion of technical change
And I like this Macroeconomic Resilience guy: An experiment
Chris Dillow discusses "welfare cycles". I'm (semi-) working on a paper that has something similar.
Adam Posen's not pulling any punches: What is wrong with the UK economy?
This is good: Mistaking models for reality
Amidst all the criticisms of macroeconomics, I agree with this defence: Expectations and first approximations
Adam Posen's not pulling any punches: What is wrong with the UK economy?
This is good: Mistaking models for reality
Amidst all the criticisms of macroeconomics, I agree with this defence: Expectations and first approximations
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