[New post] From the Department of Underappreciated Facts

Tyler Cowen posted: "Career earnings growth in the U.S. more than doubled between 1960 and 2017, and the age of peak earnings increased from the late 30s to the mid-50s. I show that a substantial share of this shift is explained by increased employment in decision-intensive o" New post on Marginal REVOLUTION From the Department of Underappreciated Facts by Tyler Cowen Career earnings growth in the U.S. more than doubled between 1960 and 2017, and the age of peak earnings increased from the late 30s to the mid-50s. I show that a substantial share of this shift is explained by increased employment in decision-intensive occupations, which have longer and more gradual periods of earnings growth...Experience takes longer to accumulate in high variance, non-routine jobs. That is from a new working paper by David J. Deming.  One implication is that AI leads to lots of angry, frustrated, left-wing young people, and a cementing in of the gerontocracy. Tyler Cowen | May 17, 2021 at 1:16 am | Categories: Uncategorized | URL: https://wp.me/p2T8CM-l5D Comment    See all comments Unsubscribe to no longer receive posts from Marginal REVOLUTION. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://marginalrevolution.com/marginalrevolution/2021/05/from-the-department-of-underappreciated-facts.html