{"id":13728,"date":"2019-11-04T12:47:11","date_gmt":"2019-11-04T16:47:11","guid":{"rendered":"http:\/\/www.wasobamaborninkenya.com\/blog\/?p=13728"},"modified":"2019-11-04T12:50:44","modified_gmt":"2019-11-04T16:50:44","slug":"talking-ourselves-into-a-recession-robert-shiller-catherine-wood-talk-disruptive-innovation-narrative-economics","status":"publish","type":"post","link":"https:\/\/www.wasobamaborninkenya.com\/blog\/talking-ourselves-into-a-recession-robert-shiller-catherine-wood-talk-disruptive-innovation-narrative-economics\/","title":{"rendered":"‘Talking Ourselves Into A Recession’: Robert Shiller, Catherine Wood Talk Disruptive Innovation, Narrative Economics"},"content":{"rendered":"\n
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Robert J. Shiller – Photo by Bengt Nyman via Wikimedia<\/a>.\u00a0<\/em> <\/figcaption><\/figure>\n\n\n\n

Yahoo Finance,<\/strong> by Renato Capelj, Benzinga<\/a> — November 1, 2019<\/p>\n\n\n\n

Excerpt:<\/strong><\/p>\n\n\n\n

Robert Shiller, a Nobel Prize in Economics recipient and the Sterling Professor of Economics at Yale University, joined ARK Invest CEO Catherine Wood in a discussion this week about the embrace of disruptive technology in today’s narrative-driven economy at the <\/em>Forbes 30 Under 30 Summit<\/em><\/a> in Detroit.\u00a0<\/em><\/p>\n\n\n\n

Shiller: Narratives Resemble The Great Depression<\/em><\/p>\n\n\n\n

A sort of fear bubble has emerged, with asset managers drawing upon indices, fixed income\u00a0and private market assets for alpha, Shiller said.\u00a0<\/em><\/p>\n\n\n\n

\u201cHardly anyone remembers; right about 1929 \u2014\u00a0the peak of the stock market \u2014\u00a0people started to worry about technological unemployment,\u201d said Shiller, referencing Stuart Chase\u2019s book “Men and Machines.”<\/em><\/p>\n\n\n\n

“[Chase] said, \u2018we are now in a turning point in history. We are entering the power age … and we\u2019re going to be seeing massive unemployment.'”\u00a0<\/em><\/p>\n\n\n\n

A Cause For Concern?\u00a0<\/em><\/p>\n\n\n\n

The uncertainty surrounding job security and technology is unsubstantiated, Wood said.\u00a0<\/em><\/p>\n\n\n\n

She pointed to a\u00a02013 Oxford University <\/em>paper<\/em><\/a> that inaccurately concluded that 47% of American jobs would be axed by automation over the next decade.<\/em><\/p>\n\n\n\n

Wood said she approached the study from a different perspective:\u00a0productivity.<\/em><\/p>\n\n\n\n

“We determined that by the year 2035, the United States would create $12 trillion more than it otherwise would have without automation. So, instead of being a $28-trillion economy, we\u2019re going to be a $40-trillion economy.”\u00a0<\/em><\/p>\n\n\n\n

……………………………………….<\/p>\n\n\n\n

View the complete article including image and links at:<\/strong><\/p>\n\n\n\n

https:\/\/finance.yahoo.com\/news\/talking-ourselves-recession-robert-shiller-153952467.html<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Yahoo Finance, by Renato Capelj, Benzinga — November 1, 2019 Excerpt: Robert Shiller, a Nobel Prize in Economics recipient and the Sterling Professor of Economics at Yale University, joined ARK Invest CEO Catherine Wood in a discussion this week about … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-13728","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t