Sunday, March 6, 2011

Is There Falling Demand for Brainpower?

link here to article

Krugman raises this question by showing that the wage ratio between the high school and college educated workforce has flattened in the last decade. It was in partial response to a NYT's article that described how computer software was able to do many things that lawyers did faster and with lower cost. It raises the question of how an economy can continue to provide middle or upper-middle class standards of living in a future in which technology reduces the premium for advanced education.

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