Good luck. Guest thank you. Next eric or nelson and andrew mcabee talk about the technical advancements taking over our lives and our economy and suggest ways to harness those advancements to benefit society. The conversatconversat ion is about one hour. Good evening. Welcome to todays meeting of the Commonwealth Club of california the place where you are in the know. You can find the Commonwealth Club on the internet at Common Wealth club. Org. I am Andrew Leonard from salon. Com your moderator for this evenings program. To my left is eric or nielsen and Andrew Mcafee who are business researchers at the m. I. T. Sloan school of management. Eric is the director of the m. I. T. Center for and enters the principle for research science. The two men made a name for themselves a couple of years ago with eric selfpublished book race against the machine which coalesced some emerging nervousness about the fact that automation is beginning to replace jobs at higher and higher levels. They follo
There is a reason that they are called the business plan. I just came from a panel there and there were three other economists and they were pointing out some pretty good statistics. As you may know, the Median Income is the 50th percentile is lower now than it was in the 1990s. In the employment to population ratio has plummeted. Some of the members are little bit better recently, but it keeps people dropping out of the labor force and not new job and how can these two groups be a very different perspective with one right and one wrong end if you look deeper there are some impressive numbers that match up with the optimism of the technology and there are record levels of productivity and gdp and all of those numbers are growing quite deeply. And the other statistics about the Median Income are also exactly accurate. And it is happening on the situation simultaneously. And it does create more wealth. And that is that there is no economic law that will help others benefit from the techn