---
title: "75 Erik Brynjolfsson Quotes - Famous Economist"
description: "Erik Brynjolfsson quotes discuss exponential growth, tech-driven pay gaps, and the value of special skills."
image: "https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b009/author-erik-brynjolfsson-33674.jpg"
---

![Portrait of Erik Brynjolfsson](https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b009/author-erik-brynjolfsson-33674.jpg)

# Erik Brynjolfsson

(1961)   Economist   United States

 **75** quotes in **357** categories

Erik Brynjolfsson warns that many people struggle with the idea of exponential growth, calling it a big blind spot. He points out that technology has widened the gap between CEOs and regular workers. He also notes that having special skills and education now lets people create real value.

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Erik Brynjolfsson is an economist from the United States.

## Quick Facts About Erik Brynjolfsson

Born November 30, 1961

Nationality United States

Profession Economist

Notable works Some estimates of the contribution of information technology to consumer welfare

## About Erik Brynjolfsson

Erik Brynjolfsson is an American academic, author and inventor. He is the Jerry Yang and Akiko Yamazaki Professor and a Senior Fellow at Stanford University where he directs the Digital Economy Lab at the Stanford Institute for Human-Centered AI, with appointments at SIEPR, the Stanford Department of Economics and the Stanford Graduate School of Business. He is also a research associate at the National Bureau of Economic Research and an author of several books. From 1990 to 2020, he was a professor at MIT.

## Awards & Honors

Herbert Simon Award honorary doctorate of Hasselt University

##  Quotes by Erik Brynjolfsson

> [The heart of science is measurement.](https://sms4smile.com/quotes/erik-brynjolfsson/the-heart-of-science-is-measurement/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Heart](https://sms4smile.com/quotes/about/heart/)

[Image](https://sms4smile.com/quotes/i/a33/erik-brynjolfsson-9007_heart_the-heart-of-science-is-measurement-2971_2971036.jpg)

> [Technology is not destiny. We shape our destiny.](https://sms4smile.com/quotes/erik-brynjolfsson/technology-is-not-destiny-we-shape-our-destiny/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Destiny](https://sms4smile.com/quotes/about/destiny/)

[Image](https://sms4smile.com/quotes/i/9ec/erik-brynjolfsson-9007_destiny_technology-is-not-destiny-we-shape-our-d_2848297.jpg)

> [“But analog photography peaked in 2000.2”](https://sms4smile.com/quotes/erik-brynjolfsson/but-analog-photography-peaked-in-2000-2/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/17c/erik-brynjolfsson-9007_analog_but-analog-photography-peaked-in-2000-2_63175.jpg)

> [Technology is not destiny.](https://sms4smile.com/quotes/erik-brynjolfsson/technology-is-not-destiny/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Destiny](https://sms4smile.com/quotes/about/destiny/)

[Image](https://sms4smile.com/quotes/i/9ca/erik-brynjolfsson-9007_destiny_technology-is-not-destiny-2779788_2779788.jpg)

> [“Voltaire: “Judge a man by his questions, not his answers.”6”](https://sms4smile.com/quotes/erik-brynjolfsson/voltaire-judge-a-man-by-his-questions-not-his-answers-6/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/e67/erik-brynjolfsson-9007_truth-seeking_voltaire-judge-a-man-by-his-questions-no_1734151.jpg)

> [“seek to be an indispensable complement to something that’s getting cheap and plentiful.”](https://sms4smile.com/quotes/erik-brynjolfsson/seek-to-be-an-indispensable-complement-to-something-that-s-getting/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/e4e/erik-brynjolfsson-9007_quote_seek-to-be-an-indispensable-complement-t_2081401.jpg)

> [“problem of simultaneous localization and mapping, which they refer to as SLAM. SLAM”](https://sms4smile.com/quotes/erik-brynjolfsson/problem-of-simultaneous-localization-and-mapping-which-they-refer-to/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/631/erik-brynjolfsson-9007_quote_problem-of-simultaneous-localization-and_1865908.jpg)

> [Retailing has gone from an information-scarce to an information-rich environment.](https://sms4smile.com/quotes/erik-brynjolfsson/retailing-has-gone-from-an-information-scarce-to-an-information-rich/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Environment](https://sms4smile.com/quotes/about/environment/)

[Image](https://sms4smile.com/quotes/i/dd5/erik-brynjolfsson-9007_environment_retailing-has-gone-from-an-information-s_1399642.jpg)

> [Computers get better faster than anything else ever.](https://sms4smile.com/quotes/erik-brynjolfsson/computers-get-better-faster-than-anything-else-ever/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/5c6/erik-brynjolfsson-9007_anything_computers-get-better-faster-than-anythin_1079261.jpg)

> [Technology has always been destroying jobs, and it has always been creating jobs.](https://sms4smile.com/quotes/erik-brynjolfsson/technology-has-always-been-destroying-jobs-and-it-has-always-been/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/ac7/erik-brynjolfsson-9007_always_technology-has-always-been-destroying-jo_782803.jpg)

> [“Not everything that counts can be counted, and not everything that can be counted, counts. As”](https://sms4smile.com/quotes/erik-brynjolfsson/not-everything-that-counts-can-be-counted-and-not-everything-that-can-2/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/61b/erik-brynjolfsson-9007_counted_not-everything-that-counts-can-be-counte_2574807.jpg)

> [Technology is always creating jobs. It's always destroying jobs.](https://sms4smile.com/quotes/erik-brynjolfsson/technology-is-always-creating-jobs-it-s-always-destroying-jobs/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Creating](https://sms4smile.com/quotes/about/creating/)

[Image](https://sms4smile.com/quotes/i/9ca/erik-brynjolfsson-9007_creating_technology-is-always-creating-jobs-it-s_2795509.jpg)

> [“In fact, the ratio of CEO pay to average worker pay has increased from 70 in 1990 to 300 in 2005, and…](https://sms4smile.com/quotes/erik-brynjolfsson/in-fact-the-ratio-of-ceo-pay-to-average-worker-pay-has-increased-from/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/312/erik-brynjolfsson-9007_increased_in-fact-the-ratio-of-ceo-pay-to-average_219721.jpg)

> [“How do we measure the benefits of free goods or services that were unavailable at any price in previous eras?”](https://sms4smile.com/quotes/erik-brynjolfsson/how-do-we-measure-the-benefits-of-free-goods-or-services-that-were/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/d41/erik-brynjolfsson-9007_quote_how-do-we-measure-the-benefits-of-free-g_2220900.jpg)

> [“Technology is a gift of God. After the gift of life it is perhaps the greatest of God’s gifts. It is the…](https://sms4smile.com/quotes/erik-brynjolfsson/technology-is-a-gift-of-god-after-the-gift-of-life-it-is-perhaps-the/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Life](https://sms4smile.com/quotes/about/life/)

[Image](https://sms4smile.com/quotes/i/974/erik-brynjolfsson-9007_life_technology-is-a-gift-of-god-after-the-gi_2485389.jpg)

> [“the message the labor market is clearly sending is that it’s much easier to create value with highly educated workers.”](https://sms4smile.com/quotes/erik-brynjolfsson/the-message-the-labor-market-is-clearly-sending-is-that-it-s-much/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Investing](https://sms4smile.com/quotes/about/investing/)

[Image](https://sms4smile.com/quotes/i/cb9/erik-brynjolfsson-9007_investing_the-message-the-labor-market-is-clearly_776424.jpg)

> [When I first started doing work on how the Internet is affecting commerce, like a lot of people, I was really excited…](https://sms4smile.com/quotes/erik-brynjolfsson/when-i-first-started-doing-work-on-how-the-internet-is-affecting/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/fa3/erik-brynjolfsson-9007_affecting_when-i-first-started-doing-work-on-how-t_2081992.jpg)

> [“The greatest shortcoming of the human race is our inability to understand the exponential function.” —Albert A. Bartlett”](https://sms4smile.com/quotes/erik-brynjolfsson/the-greatest-shortcoming-of-the-human-race-is-our-inability-to/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Exponential](https://sms4smile.com/quotes/about/exponential/)

[Image](https://sms4smile.com/quotes/i/977/erik-brynjolfsson-9007_exponential_the-greatest-shortcoming-of-the-human-ra_7262.jpg)

> [“creation of true machine intelligence and the connection of all humans via a common digital network, transforming the planet’s economics. Innovators”](https://sms4smile.com/quotes/erik-brynjolfsson/creation-of-true-machine-intelligence-and-the-connection-of-all/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Computers](https://sms4smile.com/quotes/about/computers/)

[Image](https://sms4smile.com/quotes/i/0a8/erik-brynjolfsson-9007_computers_creation-of-true-machine-intelligence-an_1369881.jpg)

> [“For instance, in Sweden, Finland, and Germany, income inequality has actually grown more quickly over the past twenty to thirty years than…](https://sms4smile.com/quotes/erik-brynjolfsson/for-instance-in-sweden-finland-and-germany-income-inequality-has/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Income inequality](https://sms4smile.com/quotes/about/income-inequality/)

[Image](https://sms4smile.com/quotes/i/b8a/erik-brynjolfsson-9007_income-inequality_for-instance-in-sweden-finland-and-germa_2757536.jpg)

> [“Science to write the corporate earnings previews that appear on the website. These stories are all generated by algorithms without human involvement.…](https://sms4smile.com/quotes/erik-brynjolfsson/science-to-write-the-corporate-earnings-previews-that-appear-on-the/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Science](https://sms4smile.com/quotes/about/science/)

[Image](https://sms4smile.com/quotes/i/bac/erik-brynjolfsson-9007_science_science-to-write-the-corporate-earnings_1107946.jpg)

> [“Between 1811 and 1817, a group of English textile workers whose jobs were threatened by the automated looms of the first Industrial…](https://sms4smile.com/quotes/erik-brynjolfsson/between-1811-and-1817-a-group-of-english-textile-workers-whose-jobs/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Industrial revolution](https://sms4smile.com/quotes/about/industrial-revolution/)

[Image](https://sms4smile.com/quotes/i/ebf/erik-brynjolfsson-9007_industrial-revolutio_between-1811-and-1817-a-group-of-english_3092856.jpg)

> [Technology has made it easier for different firms to coordinate their activities with one another, and they don't have to be part…](https://sms4smile.com/quotes/erik-brynjolfsson/technology-has-made-it-easier-for-different-firms-to-coordinate-their/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/e73/erik-brynjolfsson-9007_activities_technology-has-made-it-easier-for-differ_1927339.jpg)

> [Electricity is an example of a general purpose technology, like the steam engine before it. General purpose technologies drive most economic growth,…](https://sms4smile.com/quotes/erik-brynjolfsson/electricity-is-an-example-of-a-general-purpose-technology-like-the/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/461/erik-brynjolfsson-9007_because_electricity-is-an-example-of-a-general-p_1838516.jpg)

> [Some people think it's a law that when productivity goes up, everybody benefits. There is no economic law that says technological progress…](https://sms4smile.com/quotes/erik-brynjolfsson/some-people-think-it-s-a-law-that-when-productivity-goes-up-everybody/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Benefit](https://sms4smile.com/quotes/about/benefit/)

[Image](https://sms4smile.com/quotes/i/884/erik-brynjolfsson-9007_benefit_some-people-think-it-s-a-law-that-when-p_2319554.jpg)

> [Machines already are much smarter than us at so many things. I mean, try to multiply two 10-digit numbers with each other…](https://sms4smile.com/quotes/erik-brynjolfsson/machines-already-are-much-smarter-than-us-at-so-many-things-i-mean/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Computers](https://sms4smile.com/quotes/about/computers/)

[Image](https://sms4smile.com/quotes/i/470/erik-brynjolfsson-9007_computers_machines-already-are-much-smarter-than-u_1938600.jpg)

> [Computers get better, faster than anything else ever. A child's PlayStation today is more powerful than a military supercomputer from 1996. But…](https://sms4smile.com/quotes/erik-brynjolfsson/computers-get-better-faster-than-anything-else-ever-a-child-s/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Brain](https://sms4smile.com/quotes/about/brain/)

[Image](https://sms4smile.com/quotes/i/ceb/erik-brynjolfsson-9007_brain_computers-get-better-faster-than-anythin_699102.jpg)

> [“However, as noted above, replacing a paid newspaper with an equivalent free new service would decrease GDP even though it increased consumer…](https://sms4smile.com/quotes/erik-brynjolfsson/however-as-noted-above-replacing-a-paid-newspaper-with-an-equivalent/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/1f2/erik-brynjolfsson-9007_quote_however-as-noted-above-replacing-a-paid_2058733.jpg)

> [“The argument that technology cannot create ongoing structural unemployment, rather than just temporary spells of joblessness during recessions, rests on two pillars:…](https://sms4smile.com/quotes/erik-brynjolfsson/the-argument-that-technology-cannot-create-ongoing-structural/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Technology](https://sms4smile.com/quotes/about/technology/)

[Image](https://sms4smile.com/quotes/i/763/erik-brynjolfsson-9007_technology_the-argument-that-technology-cannot-crea_2778424.jpg)

> [“Liberals including James Tobin, Paul Samuelson, and John Kenneth Galbraith and conservatives like Milton Friedman and Friedrich Hayek have all advocated income…](https://sms4smile.com/quotes/erik-brynjolfsson/liberals-including-james-tobin-paul-samuelson-and-john-kenneth/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Minimum wage](https://sms4smile.com/quotes/about/minimum-wage/)

[Image](https://sms4smile.com/quotes/i/45d/erik-brynjolfsson-9007_minimum-wage_liberals-including-james-tobin-paul-samu_2383286.jpg)

> [“They write that “the impact of college is largely determined by individual effort and involvement in the academic, interpersonal, and extracurricular offerings…](https://sms4smile.com/quotes/erik-brynjolfsson/they-write-that-the-impact-of-college-is-largely-determined-by/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Computers](https://sms4smile.com/quotes/about/computers/)

[Image](https://sms4smile.com/quotes/i/8d4/erik-brynjolfsson-9007_computers_they-write-that-the-impact-of-college-is_2624222.jpg)

> [“Capitalism allocates resources, generates innovation, rewards effort, and builds affluence with high efficiency, and these are extraordinarily important things to do well…](https://sms4smile.com/quotes/erik-brynjolfsson/capitalism-allocates-resources-generates-innovation-rewards-effort/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Capitalism](https://sms4smile.com/quotes/about/capitalism/)

[Image](https://sms4smile.com/quotes/i/c16/erik-brynjolfsson-9007_economics_capitalism-allocates-resources-generates_2212008.jpg)

> [“axis, all of those straight-ish lines would look like the first graph above of Andy’s tribble family—horizontal most of the way, then…](https://sms4smile.com/quotes/erik-brynjolfsson/axis-all-of-those-straight-ish-lines-would-look-like-the-first-graph/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Building blocks](https://sms4smile.com/quotes/about/building-blocks/)

[Image](https://sms4smile.com/quotes/i/7f1/erik-brynjolfsson-9007_building-blocks_axis-all-of-those-straight-ish-lines-wou_783974.jpg)

> [“To get a sense on the scale of this effort, consider that last year users collectively spent about 200 million hours each…](https://sms4smile.com/quotes/erik-brynjolfsson/to-get-a-sense-on-the-scale-of-this-effort-consider-that-last-year/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Happiness](https://sms4smile.com/quotes/about/happiness/)

[Image](https://sms4smile.com/quotes/i/a06/erik-brynjolfsson-9007_happiness_to-get-a-sense-on-the-scale-of-this-effo_2712987.jpg)

> [“I tried to look at where did the kind of learning we do in schools, where did it come from? . .…](https://sms4smile.com/quotes/erik-brynjolfsson/i-tried-to-look-at-where-did-the-kind-of-learning-we-do-in-schools/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[British empire](https://sms4smile.com/quotes/about/british-empire/)

[Image](https://sms4smile.com/quotes/i/747/erik-brynjolfsson-9007_british-empire_i-tried-to-look-at-where-did-the-kind-of_2038347.jpg)

> [“Basic income is not part of mainstream policy discussions today, but it has a surprisingly long history and came remarkably close to…](https://sms4smile.com/quotes/erik-brynjolfsson/basic-income-is-not-part-of-mainstream-policy-discussions-today-but/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[History](https://sms4smile.com/quotes/about/history/)

[Image](https://sms4smile.com/quotes/i/6bf/erik-brynjolfsson-9007_history_basic-income-is-not-part-of-mainstream-p_976306.jpg)

> [“Work saves a man from three great evils: boredom, vice, and need.”](https://sms4smile.com/quotes/erik-brynjolfsson/work-saves-a-man-from-three-great-evils-boredom-vice-and-need/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Work](https://sms4smile.com/quotes/about/work/)

[Image](https://sms4smile.com/quotes/i/937/erik-brynjolfsson-9007_work_work-saves-a-man-from-three-great-evils_350225.jpg)

> [“Holmstrom and P. Milgrom, “Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design,” Journal of Law, Economics & Organization 7, no. 24 (1991).”](https://sms4smile.com/quotes/erik-brynjolfsson/holmstrom-and-p-milgrom-multitask-principal-agent-analyses-incentive/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Economics](https://sms4smile.com/quotes/about/economics/)

[Image](https://sms4smile.com/quotes/i/70c/erik-brynjolfsson-9007_economics_holmstrom-and-p-milgrom-multitask-princi_1190681.jpg)

> [“When significant numbers of people see their standards of living fall despite an ever-growing economic pie, it threatens the social contract of…](https://sms4smile.com/quotes/erik-brynjolfsson/when-significant-numbers-of-people-see-their-standards-of-living-fall/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Economics](https://sms4smile.com/quotes/about/economics/)

[Image](https://sms4smile.com/quotes/i/37d/erik-brynjolfsson-9007_economics_when-significant-numbers-of-people-see-t_1901825.jpg)

> [The kind of job where you come in and work 9 to 5, and where someone tells you what to do all…](https://sms4smile.com/quotes/erik-brynjolfsson/the-kind-of-job-where-you-come-in-and-work-9-to-5-and-where-someone/)

[Erik Brynjolfsson](https://sms4smile.com/quotes/author/erik-brynjolfsson/)

[Image](https://sms4smile.com/quotes/i/47d/erik-brynjolfsson-9007_all-day_the-kind-of-job-where-you-come-in-and-wo_2535616.jpg)

## Erik Brynjolfsson by topic

[Technology (29)](https://sms4smile.com/quotes/about/technology/erik-brynjolfsson/) [Computers (14)](https://sms4smile.com/quotes/about/computers/erik-brynjolfsson/)

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                        "text": "“The greatest shortcoming of the human race is our inability to understand the exponential function.” —Albert A. Bartlett”",
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                        "text": "“creation of true machine intelligence and the connection of all humans via a common digital network, transforming the planet’s economics. Innovators”",
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                        "text": "“For instance, in Sweden, Finland, and Germany, income inequality has actually grown more quickly over the past twenty to thirty years than in the United States. 15”",
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                        "text": "“Science to write the corporate earnings previews that appear on the website. These stories are all generated by algorithms without human involvement. And they’re indistinguishable from what a human would write:”",
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                        "text": "“Between 1811 and 1817, a group of English textile workers whose jobs were threatened by the automated looms of the first Industrial Revolution rallied around a perhaps mythical, Robin Hood–like figure named Ned Ludd and attacked mills and machinery before being suppressed by the British government.”",
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                        "text": "Technology has made it easier for different firms to coordinate their activities with one another, and they don't have to be part of one company. They can get the benefits of scale without the inertia of scale.",
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                        "text": "Electricity is an example of a general purpose technology, like the steam engine before it. General purpose technologies drive most economic growth, because they unleash cascades of complementary innovations, like lightbulbs and, yes, factory redesign.",
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                        "text": "Some people think it's a law that when productivity goes up, everybody benefits. There is no economic law that says technological progress has to benefit everybody or even most people. It's possible that productivity can go up and the economic pie gets bigger, but the majority of people don't share in that gain.",
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                        "text": "Machines already are much smarter than us at so many things. I mean, try to multiply two 10-digit numbers with each other or, you know, sift through a thousand documents. So there's lots of things that machines are better at including in mental task than us. There's many more that they're not as good at, but the direction is pretty obvious and the progress is clear.",
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                        "text": "Computers get better, faster than anything else ever. A child's PlayStation today is more powerful than a military supercomputer from 1996. But our brains are wired for a linear world. As a result, exponential trends take us by surprise. I used to teach my students that there are some things, you know, computers just aren't good at like driving a car through traffic.",
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                        "text": "“However, as noted above, replacing a paid newspaper with an equivalent free new service would decrease GDP even though it increased consumer surplus. 9 In this case, consumer surplus would be a better measure of our economic well-being.”",
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                        "text": "“The argument that technology cannot create ongoing structural unemployment, rather than just temporary spells of joblessness during recessions, rests on two pillars: 1) economic theory and 2) two hundred years of historical evidence. But both of these are less solid than they first appear. First, the theory. There are three economic mechanisms that are candidates for explaining technological unemployment: inelastic demand, rapid change, and severe inequality. If technology leads to more efficient use of labor, then as the economists on the National Academy of Sciences panel pointed out, this does not automatically lead to reduced demand for labor. Lower costs may lead to lower prices for goods, and in turn, lower prices lead to greater demand for the goods, which can ultimately lead to an increase in demand for labor as well.”",
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                        "text": "“Liberals including James Tobin, Paul Samuelson, and John Kenneth Galbraith and conservatives like Milton Friedman and Friedrich Hayek have all advocated income guarantees in one form or another, and in 1968 more than 1,200 economists signed a letter in support of the concept addressed to the U.S. Congress.4 The president elected that year, Republican Richard Nixon, tried throughout his first term in office to enact it into law. In a 1969 speech he proposed a Family Assistance Plan that had many features of a basic income program. The plan had support across the ideological spectrum, but it also faced a large and diverse group of opponents.5 Caseworkers and other administrators of existing welfare programs feared that their jobs would be eliminated under the new regime; some labor leaders thought that it would erode support for minimum wage legislation; and many working Americans didn’t like the idea of their tax dollars going to people who could work, but chose not to. By the time of his 1972 reelection campaign, Nixon had abandoned the Family Assistance Plan, and universal income guarantee programs have not been seriously discussed by federal elected officials and policymakers since then.* Avoiding”",
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                        "text": "“They write that “the impact of college is largely determined by individual effort and involvement in the academic, interpersonal, and extracurricular offerings on a campus.” 14 This work leads directly to our most fundamental recommendation to students and their parents: study hard, using technology and all other available resources to ‘fill up your toolkit’ and acquire skills and abilities that will be needed in the second machine age.”",
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                        "text": "“Capitalism allocates resources, generates innovation, rewards effort, and builds affluence with high efficiency, and these are extraordinarily important things to do well in a society. As a system capitalism is not perfect, but it’s far better than the alternatives. Winston Churchill said that, “Democracy is the worst form of government except for all those others that have been tried.”2 We believe the same about capitalism. The”",
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                        "text": "“axis, all of those straight-ish lines would look like the first graph above of Andy’s tribble family—horizontal most of the way, then suddenly close to vertical at the end. And there would really be no way to graph them all together—the numbers involved are just too different. Logarithmic scaling takes care of these issues and allows us to get a clear overall picture of improvement in digital gear. It’s clear that many of the critical building blocks of computing—microchip density, processing speed, storage capacity, energy efficiency, download speed, and so on—have been improving at exponential rates for a long time. To understand the real-world impacts of Moore’s Law, let’s compare the capabilities of computers separated by only a few doubling periods. The ASCI Red, the first product of the U.S. government’s Accelerated Strategic Computing Initiative, was the world’s fastest supercomputer when it was introduced in 1996. It cost $55 million to develop and its one hundred cabinets occupied nearly 1,600 square feet of floor space (80 percent of a tennis court) at Sandia National Laboratories in New Mexico.10 Designed for calculation-intensive tasks like simulating nuclear tests, ASCI Red was the first computer to score above one teraflop—one trillion floating point operations* per second—on the standard benchmark test for computer speed. To reach this speed it used eight hundred kilowatts per hour, about as much as eight hundred homes would. By 1997, it had reached 1.8 teraflops.”",
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                        "text": "“To get a sense on the scale of this effort, consider that last year users collectively spent about 200 million hours each day just on Facebook, much of it creating content for other users to consume. 13 That’s ten times as many person-hours as were needed to build the entire Panama Canal. 14 None of this is counted in our GDP statistics as either input or output, but these kinds of zero-wage and zero-price activities still contribute to welfare.”",
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                        "text": "“I tried to look at where did the kind of learning we do in schools, where did it come from? . . . It came from . . . the last and the biggest of the empires on this planet, [the British Empire]. What they did was amazing. They created a global computer made up of people. It’s still with us today. It’s called the bureaucratic administrative machine. In order to have that machine running, you need lots and lots of people. They made another machine to produce those people: the school. The schools would produce the people who would then become parts of the bureaucratic administrative machine. . . . They must know three things: They must have good handwriting, because the data is handwritten; they must be able to read; and they must be able to do multiplication, division, addition and subtraction in their head. They must be so identical that you could pick one up from New Zealand and ship them to Canada and he would be instantly functional.10 Of”",
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                        "text": "“Basic income is not part of mainstream policy discussions today, but it has a surprisingly long history and came remarkably close to reality in twentieth-century America. One of its early proponents was the English-American political activist Thomas Paine, who advocated in his 1797 pamphlet Agrarian Justice that everyone should be given a lump sum of money upon reaching adulthood to compensate for the unjust fact that some people were born into landowning families while others were not.”",
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                        "text": "“Work saves a man from three great evils: boredom, vice, and need.”",
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                        "text": "“Holmstrom and P. Milgrom, “Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design,” Journal of Law, Economics & Organization 7, no. 24 (1991).”",
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