Robots Took Your Job. Seriously.
We have written about all kinds of robot journalists before but here, from the WSJ, is an explanation why in this “economic recovery,” companies have been more willing to spend money on equipment than people.
Temporary tax breaks, the Journal says, meant that any capital purchase last year could be written off 100% for the first year. And that’s part of the reason why productivity has increased while hiring has remained anemic at best.
“History suggests that investment that increases productivity eventually will create jobs and raise living standards,” the Journal continues.
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