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America is sleepwalking into an economic storm
The combination of an ageing work force, artificial intelligence and shifts in globalisation will challenge America in ways not seen in decades.
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In 2000, there were about 27 Americans above 65 for every 100 of prime working age. By 2040, it will have risen to 54.
PHOTO: NYTIMES
Daron Acemoglu
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Inflation seems under control. The job market remains healthy. Wages, including at the bottom end of the scale, are rising. But this is just a lull. There is a storm approaching and Americans are not prepared.
Barrelling towards us are three epochal changes poised to reshape the US economy in coming years: an ageing population, the rise of artificial intelligence (AI) and the rewiring of the global economy.
