Fragile robots, economic growth and convergence

Klarl, Torben

doi:10.1016/j.econmod.2022.105850

Economic Modelling

2022

DOI: 10.1016/j.econmod.2022.105850

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Fragile robots, economic growth and convergence

Torben Klarl

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2024

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Cited by 3 publications

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The AI revolution with 21st century skills: Implications for the wage inequality and technical change

Grant,

Üngör

2024

Scottish J Political Eco

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We construct a three‐level constant elasticity of substitution production model. Labour is split into three components: (i) low‐skilled labour, (ii) high‐skilled labour with a traditional education background, and (iii) high‐skilled labour with an AI‐based education background. Rising use of automation in production will cause a rise in the skill premium (wages of both types of high‐skilled workers relative to low‐skilled workers) and AI skill premium (wages of high‐skilled labour with an AI‐based education relative to those with a traditional education background). Dependent on the value of the elasticity, automation may favour high‐skilled workers with an AI‐based education background.

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The AI revolution with 21st century skills: Implications for the wage inequality and technical change

Grant,

Üngör

2024

Scottish J Political Eco

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Economic Growth in the Age of Ubiquitous Threats: How Global Risks are Reshaping Growth Theory

Gomes

2024

Economics

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One of the most outstanding accomplishments of the economic science over the last decades is the development of a sound and coherent theory of economic growth. Research in growth theory has demonstrated that significant and systematic increases in well-being are attainable whenever the right formula is implemented. When combined with efficiency, the ingredients of this formula – innovation, the diffusion of ideas, and human capital accumulation – can drive the economy toward a virtuous path of sustained growth. Notwithstanding, this is an overly optimistic view of growth that does not account for the many obstacles that the creation of wealth may encounter. The current essay surveys cutting-edge research on growth theory to conclude in favor of a paradigm shift: the main concern is no longer just with how to correctly combine production inputs, but with how their efficient use is eventually hampered by a large collection of worldwide risks and threats. Global risks come in many shapes (they can be classified as economic, environmental, geopolitical, societal, and technological) but, in any case, they call for a reexamination of growth theory.

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Rationalization of labor as a function of systemic economic thinking under the modern social and labor relations

Bogunov

2024

RusJEL

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Objective: to define the content of concepts that formalize the problem area of the modern social and labor relations (SLR) and to offer a solution to the problem of SLR regulation from the viewpoint of rationalization factor.Methods: content analysis and systematization of scientific publications, including logical, comparative and contextual analysis; methods of dialectical cognition, system analysis and synthesis, SWOT-analysis, and modeling; structural and system-functional approach.Results: based on the analysis of foreign and Russian publications on various aspects of the SLR definition and development, the author formulated the content of concepts reflecting the said phenomenon in the logic of changes, problems and solutions. The problem area of the modern SLR interpretation was outlined, within which the rationalization potential of the labor subjects activity is not differentiated, which makes it difficult both to formalize certain modern problem aspects and to formulate relevant corrective proposals. A solution was developed that takes into account the resource of economic thinking of individuals with bounded rationality; this allows supplementing the essential construction of the rationalization concept in the context of labor activity. Using the established theoretical and methodological toolkit, the author reveals the possibilities to improve the labor agents’ adaptability under the changes in SLR and to promote the constructive interaction of SLR subjects in general. The article shows potential directions of scientific search concerning the activity of labor actors as subjects of rationalization under the changes.Scientific novelty: the article develops the concept of labor rationalization as a function of systemic economic thinking, which allows compensating for limited rationality and thus increasing constructive interaction of SLR subjects.Practical significance: the provisions developed in the article can be used in research work when considering the issues of SLR and labor rationalization and in educational activities from the viewpoint of the established competence model.

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Fragile robots, economic growth and convergence

Cited by 3 publications

References 50 publications

The AI revolution with 21st century skills: Implications for the wage inequality and technical change

The AI revolution with 21st century skills: Implications for the wage inequality and technical change

Economic Growth in the Age of Ubiquitous Threats: How Global Risks are Reshaping Growth Theory

Rationalization of labor as a function of systemic economic thinking under the modern social and labor relations

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