Summary of Average Is Over

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Recommendation

The great “hollowing out” of the US economy is no mirage. That most Americans are falling behind is a measurable trend. Prominent economist Tyler Cowen lays out the details in this compelling read. Cowen doesn’t expect robots to take your job, but he is a realist and warns that those US workers who lack specialized skills and educational credentials face a downwardly mobile future. His conclusions align more closely with today’s economy than when he first published this report in 2013. getAbstract recommends Cowen’s engaging study to employees, employers, investors and policy makers seeking insight into fast-changing labor markets.

In this summary, you will learn

  • Why today’s American economy rewards the smartest and most-skilled workers,
  • Why machines won’t soon displace humans, and
  • Why women overtake men in labor markets.
 

About the Author

Tyler Cowen is a professor of economics at George Mason University. He writes the Marginal Revolution blog. His previous books include The Great Stagnation and The Age of the Infovore.

 

Summary

Squeezing the Middle
In a dramatic shift that promises to continue, the US job market has fundamentally changed in recent years. Unskilled workers face shrinking wages, while highly skilled workers enjoy gains. In the decade from 2000 to 2010, inflation-adjusted wages for workers holding...

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