Interesting speech from Janet Yellen – Chairwoman of the
Federal Reserve:
https://www.federalreserve.gov/newsevents/speech/yellen20161219a.pdf
“For decades, technological advances have increasingly allowed simpler, repetitive tasks to be done more cheaply and safely by machines. This kind of work in factories, stores, and offices often required only a high school education. At the same time, technological advances have increased demand for workers with the education necessary to perform the ever-growing share of jobs where technology is important.
“For decades, technological advances have increasingly allowed simpler, repetitive tasks to be done more cheaply and safely by machines. This kind of work in factories, stores, and offices often required only a high school education. At the same time, technological advances have increased demand for workers with the education necessary to perform the ever-growing share of jobs where technology is important.
More recently, further
advances are automating increasingly complex tasks and allowing workers with
the ability and flexibility to use technology to be more productive.”