142. What’s Impacting American Workers? | People I (Mostly) Admire

David Autor took his first economics class at 29 years old. Now he’s one of the central academics studying the labor market. The M.I.T. economist and Steve dissect the impact of technology on labor, spar on A.I., and discuss why economists can sometimes be oblivious.
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[@Ryanrobi]

Agricultural production is much more concentrated 90% of the food is made on about 10% of the farms so it's actually about 150,000 people in the United States make food for over 400 million people. I work in agriculture/ag tech The year-over-year productivity growth on large commercial farms is incredible And that makes these farmers 99% families very wealthy. Families that own large commercial farms if net worth and household incomes as high as doctors if not higher especially in terms of net worth. Because it's a perfect commodity market If you're not in the top 10% very profitable farms You're losing money in most farmers 90% are hobby farmers do it on the side They have another full-time income source and they use it as a tax write-off and to keep their land taxes much lower.

[@Ryanrobi]

They're definitely seems to be something that happened around 1972 73 where productivity for pretty much all industries besides tech hydro fracking and other mining in commercial agriculture still had productivity growth at or above inflation whereas everything else productivity is going down below inflation. For example instruction workers or at least 50% less productive than they were in 1972 per hour truck drivers are about 30% less productive doctors or way less productive, same as teachers and most service workers and since service work what's the vast majority of the economy is that grows slow productivity growth of course will be low.

[@MNickH]

Cenk. You're missing the point. Campaigns will always twist the truth for their political gain. Both sides do it. But a news organization should not.