While economic policy should do more to reduce income inequality and Congress should seriously consider world-class worker training and adjustment assistance programs, our nation is doomed to second-class status if we cannot support all forms of productivity, including worker-replacing automation.
March 18, 2019
Fact of the Week: Immigrant-Owned High-Tech Firms Outperform Native-Owned Firms Across 15 of 16 Measures of Innovation
Proponents of increased high-skilled immigration routinely cite research that measures the size and growth of firms created by immigrant entrepreneurs. A new study goes farther, examining the performance of immigrant-owned high-tech firms across 16 metrics of innovation, from the production of publishable findings to patent applications.
March 4, 2019
Between 1993 and 2003, Canada’s labor productivity grew at an average rate of 1.6 percent annually. The following decade, average labor productivity growth fell by more than a third to 1.0 percent, with comparable slowdowns occurring in most OECD countries, dampening economic growth globally. A new study examined the influence of ICT use and production on Canada’s labor productivity growth from 1993 to 2014, finding significant declines in ICT investment and ICT-driven growth.
January 7, 2019
The Task Ahead of Us: Transforming the Global Economy With Connectivity, Automation, and Intelligence
The next wave of digital innovation is coming. Countries can welcome it, prepare for it, and ride it to new heights of innovation and prosperity, or they can ignore the changing tide and miss the wave.
December 18, 2018
A featured essay for Australian’s Department of Industry, Innovation and Science discusses what nations can to do spur productivity growth and encourage the development of new technologies.
December 4, 2018
In a presentation to the National Economist Club, Rob Atkinson discussed U.S. manufacturers' preparedness for automation and new technologies.
November 26, 2018
Fact of the Week: The Least Profitable Firms Among the World's Largest Companies Have Higher Labor Productivity and Lower Fixed Capital Productivity than the Most Profitable Firms
There are nearly 6,000 firms with revenues exceeding $1 billion, representing nearly two-thirds of global corporate earnings. The 10 percent of those firms with the largest profits produce 80 percent of the group’s total earnings. A new study has found that firms in the top 1 percent outperform the median firm across the board, with 20 times more revenue, 12 times more employees, 2.9 times more R&D intensity, 23 percent more labor productivity, and 14 percent more fixed capital productivity.
November 19, 2018
Southeast Asian nations significantly outperform the rest of the world in wage-controlled robot adoption, while Europe and the United States lag significantly behind.
November 15, 2018
Throwing Robots Under the Bus: How Blaming Automation Distracts Attention From Real Solutions to Modern Labor Market Woes
Economists and policymakers have led an effort to explain technological innovation as good for workers throughout the economy, but why have so many become so eager to throw robots under the bus by blaming automation for labor market woes? Join ITIF for an expert discussion of Oren Cass's new book on the future of work, related technological and economic trends, and their implications for policymakers.
October 29, 2018
Fact of the Week: Labor Productivity in the U.S. is Higher than in the EU, Largely Due to ICT Investments
A new report by ITIF finds that the fact that U.S. workers are 16 percent more productive than EU-15 workers is largely attributable to Europe’s failure to invest in information and communications technologies (ICT), which drives labor productivity.
October 24, 2018
To restore robust productivity growth, Europe must fully embrace information and communication technologies (ICT) throughout its economy.