For decades, we have believed that automation and huge leaps in technology will take away most of our jobs and there will be widespread unemployment.
A new study shows that this belief is incorrect. Job growth and living standards have continued to rise on an average scale.
MORE IDEAS FROM THE ARTICLE
The average working hours have declined only 6 percent, while income has increased at a decent rate per year.
The economy has actually grown even after automation, due to the addition of workers.
The Solow Paradox suggests that automation and computerization aren't taking our jobs, but are adding to our overall workload, taking away our leisure time.
Smartphones and the internet haven't provided a sharp increase in productivity, as compared to the other revolutionary inventions like Television, Air-conditioning or Jet Planes.
Two of the biggest innovations of modern times are cars and airplanes. At first, every new invention looks like a toy. It takes decades for people to realise the potential of it.