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Cowles Foundation Discussion Papers

Division of labor

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Full-Text Articles in Economics

Narratives About Technology-Induced Job Degradation Then And Now, Robert J. Shiller Feb 2019

Narratives About Technology-Induced Job Degradation Then And Now, Robert J. Shiller

Cowles Foundation Discussion Papers

Concerns that technological progress degrades job opportunities have been expressed over much of the last two centuries by both professional economists and the general public. These concerns can be seen in narratives both in scholarly publications and in the news media. Part of the expressed concern about jobs has been about the potential for increased economic inequality. But another part of the concern has been about a perceived decline in job quality in terms of its effects on monotony vs creativity of work, individual sense of identity, power to act independently, and meaning of life. Public policy should take account …


The Paradox Of Competition: Power, Markets, And Money - Who Gets What, When, How?, Martin Shubik Jan 2018

The Paradox Of Competition: Power, Markets, And Money - Who Gets What, When, How?, Martin Shubik

Cowles Foundation Discussion Papers

Money is a mystery and financial institutions are often regarded as guardians and promoters of the mystery. These sketches are designed to help any reader interested in, but not technically trained in economics, understand markets, money, credit and the evolution of a mass market system set in the rich context of its political environment and society. We all want a good society. What is a good society is given by our joint vision, mutual respect and social concern but the implementation of the vision calls for the use and understanding of money, markets and finance. The efficient functioning of a …


Who Gets What, When, How? Power, Organization, Markets, Money And The Allocation Of Resources, Martin Shubik Jan 2018

Who Gets What, When, How? Power, Organization, Markets, Money And The Allocation Of Resources, Martin Shubik

Cowles Foundation Discussion Papers

Money is a mystery and financial institutions are often regarded as guardians and promoters of the mystery. These sketches are designed to help an individual interested in, but not technically trained in economics, understand markets, money, credit and the evolution of a mass market system embedded in the rich context of its political environment and society. The efficient functioning of a dynamic economy requires the presence of money and financial institutions. The great variety of financial institutions in any advanced economy requires that a synthetic approach is used to understand what the whole looks like. Verbal description provides an overarching …