Help Community portal Recent changes Upload file. Download as PDF Printable version. Add links. Erik Brynjolfsson Andrew McAfee. Race Against the Machine. For some people, this will be the best thing since sliced bread; for others it will be a nightmare - but so is the balance of the market of work.
I think "concern" are for those not willing to move with the changes; everyone should be aware of their own situation, but those that will move with the times, making the necessary changes to their own behaviour will be the ones who make a difference.
Interesting topic indeed. See 2 questions about The Second Machine Age…. Lists with This Book. Community Reviews. Showing Average rating 3. Rating details. More filters. Sort order. The first part of this book reviews the incredible boom in technologies that are driving much of our economy. After that, the remainder of the book is about "bounty and spread". Bounty is the increased level of prosperity that some--but not all--of the population enjoys, as productivity increases.
Spread is the growth of inequality, as much of the increased prosperity goes to the top economic levels, and little gets distributed to the lower economic levels. Thus, there ia a growing "spread" of i The first part of this book reviews the incredible boom in technologies that are driving much of our economy.
Thus, there ia a growing "spread" of income levels, what we normally would call "inequality". The authors show that real, inflation-adjusted wages have grown since for people who have graduated from college or graduate school.
High school graduates have not had real wage increases, and high school dropouts have had wage decreases. The authors note that some increases in "prosperity" cannot be measured; who in had a cell phone, a tablet computer, or cable TV? These consumer items were not available at any prices, and Moore's law has allowed these electronic inventions advance spectacularly in power in recent decades.
However, these consumer items are not fully indicative of prosperity, since real estate, food, and transportation have not kept up with Moore's law. These are necessities, not luxuries, and thus the overall prosperity of most people has not increased with time. The authors conclude with a set of policies that would help increase the prosperity of even the lower-level economic class; overhaul the education system, encourage entrepreneurship, encourage better match-ups between skills and jobs, increase support for science, upgrade infrastructure, reform patent law and reform taxes.
This is a well-written, basic-level book dealing with economics. It's interesting, but the recommendations a bit bland. There is little discussion about how to surmount the political hurdles. There is not much here that isn't also discussed elsewhere. View 2 comments. May 07, Trevor rated it it was amazing Shelves: economics , work. What I want to talk about here are some of the ideas the authors have on GDP and how this is being impacted by technology. GDP has long been a problematic concept.
The point the authors makes is that a lot of the value that comes from products in the digital economy similarly are worth much more to us than we pay. In fact, in part they argue that the value of digital products is often reduced to the marginal price of those goods and services — and, since digital means being able to reproduce something at effectively zero additional cost, this often means that the price of any digital product goes through a process where it has an infinite price right up until it had zero price.
There was a time in living memory for me at least where to see a film involved needing to go to the cinema or to wait until it was shown on television. Then there came a time when you could eventually hire films from your local video library — if they were available.
Buying them was expensive and only available a long time after they were released. Today, that little trick is available and at very little cost from companies that give you access to lots and lots of films for a fixed fee per month.
The other example they give is an encyclopedia, and this one is really interesting — there was a time when buying an encyclopedia was a way of presenting yourself as a particular type of person — one keen to be seen as knowledgeable about the whole range of human intellectual endeavour.
People would effectively borrow lots of money so as to possess an encyclopedia. The internet has effectively killed off the encyclopedia business. But not just in sales, also increasingly in the writing of entries too. People complain about the inaccuracy of Wikipedia, but then there was that Nature article from some time ago that compared it to Britannica and found it to be even more accurate and covered more stuff.
The first is that encyclopedias used to cost a fortune, now they cost basically nothing at all. And even so, they are likely to be much more accurate and up to date than the old print versions ever were. To buy a completely up to date print version of an encyclopedia was always impossible, at any cost. That is, up until the internet the cost of such a thing was effectively infinity. Now it is effectively zero. And so, none of this use of the encyclopedia is counted as part of GDP either.
That said, these authors are remarkably positive about the changes occurring in the economy and the likelihood that these will prove beneficial. But this is mostly true on the second half of the board. To then to say capitalism will remain the obvious means of organising an economy seems anything but clear to me.
The desire for such work is pretty clear from the fact of Wikipedia, for instance or here on Goodreads, even where people spend lots of time contributing to the common good, and expecting nothing in return. This reminds me of Americas and their odd relationship with their constitution.
The world has moved on a bit since the eighteenth century. This book's mission is fairly straightforward: It seeks to convince the reader, by analyzing various economic data, that today's technology is something that is far more marvelous than most of us realize. The argument is that we're in the middle of a second era of unprecedented innovation, much like the first machine age, when population exploded, as did quality of life, earnings, and a number of other life metrics.
Though its mission is vast, the actual pieces of the book are digestible. The op This book's mission is fairly straightforward: It seeks to convince the reader, by analyzing various economic data, that today's technology is something that is far more marvelous than most of us realize.
The opening chapter is about how close we are to a driverless car -- something that even a few years ago seemed impossible. There's a chapter on measuring the cost of the digital economy, most of which is "free," even though it offers us incredible value for example, I use this website to track my reading and review books -- something I find incredibly valuable, but it comes to me for free. And a look at what's really behind the so-called technology skills mismatch. Much of these chapters won't be surprising to economists, or even regular listeners of NPR's Planet Money podcast, but it really does combine all of these threads into one big narrative about the meaning of technology in our lives today.
Though they aren't complete optimists: they do point out that there's a real problem with inequality in today's advanced world, but they do make the case that overall we're much better off with technology -- and that those advances are happening even faster than we can really think logically about. Once we understand that, it becomes less absurd to contemplate how our economy will change with a fully autonomous android workforce.
It's frighteningly within reach. View 1 comment. I don't know much about economics, so I found their views really interesting, especially since they often balanced opposing viewpoints before saying which side they preferred. Sometimes neither, but a mix. I was surprised they didn't include corporations as entities, beyond pointing out some of the most egregious flaws in copyright briefly.
They also addressed many of the benefits we'll reap. It's long been a dream of our race. The word 'robot' originated in R. They also quote Voltaire's wonderful point that Work saves us from three great evils: boredom, vice and need. Poor workers can be a pillar of society, but unemployed are not. They didn't mention criminally employed, though. Machines are taking many of repetitive jobs.
As expensive as they are, they're often far cheaper than a human. When we work with them, the results are amazing. We need to change our education system. Teaching to the test isn't going to cut it. They discuss automated cars a lot which have come a long way since then.
That helps make their point, that we're in another age of unprecedented innovation akin to the Industrial Revolution, even better than all their fine examples. They come up with some general ideas on solutions to get through this time of flux which make a lot of sense.
I hope our leaders read this. Highly recommended. Table of Contents: The big stories The skills of the new machines : technology races ahead Moore's law and the second half of the chessboard The digitization of just about everything Innovation : declining or recombining? Artificial and human intelligence in the second machine age Computing bounty Beyond GDP The spread The biggest winners : stars and superstars Implications of the bounty and the spread Learning to race with machines : recommendations for individuals Policy recommendations Long-term recommendations Technology and the future which is very different from "technology is the future".
View all 6 comments. When the robots take our jobs, what color is your parachute? In their book The Second Machine Age, MIT researchers Brynjolfsson and McAfee point to machines that are getting better at pattern recognition and real time processing of complex situations.
Machines can now sometimes drive cars, sometimes beat chessmasters, and sometimes win at Jeopardy. Humans need to figure out what their competitive advantage is and the line keeps moving. Why should a manager hire a living, learning person when they could have a robot that works quickly, quietly, and without breaks, demands, or opinions? An iPad 2 from , smaller and lighter than an issue of Vanity Fair and as easily slipped into a briefcase, matched the processor speed of a room-sized Cray-2 supercomputer from It cost well under a thousand dollars.
The defining machines of the age steam engines then, chip- based computers now have reached technological maturity and spread widely through society, enabling those who possess them to do things that would have seemed utterly fantastic only a decade earlier. The result, now as then, will be radical, foundational social and economic change.
Chapters explore why innovation in computers and other digital technologies has accelerated in the last decade and will probably continue to do so for the foreseeable future.
Our goal as a society, Brynjolffson and McAfee argue, should be to maximize the bounty while limiting the spread; the final section of the book, Chapters , contains their recommendations for achieving that goal. They present all of it in clear, conversational prose studded with pop culture references, quotes from experts in a dozen different fields, and unexpected juxtapositions of the real and the imaginary. A "fascinating" Thomas L.
Friedman, New York Times look at how digital technology is transforming our work and our lives. Recent economic indicators reflect this shift: fewer people are working, and wages are falling even as productivity and profits soar.
Chan Kim. Hunter Lovins. Colin Cameron. Barnet and Jake Berry Ray Waddell. A fundamentally optimistic book, The Second Machine. Age alters how we think about issues of technological, societal, and economic. Friedman, New York Times look at how digital technology is transforming our work and our lives. Digital technologies—with hardware, software, and networks at their core—will in the near future diagnose diseases more accurately than doctors can, apply enormous data sets to transform retailing, and accomplish many tasks once considered uniquely human.
As the full impact of digital technologies is felt, we will realize immense bounty in the form of dazzling personal technology, advanced infrastructure, and near-boundless access to the cultural items that enrich our lives.Search this site. Friedman, New York Times look at how digital technology is transforming our work and our lives. Digital technologies—with hardware, software, and networks at their core—will in the near future diagnose diseases more accurately than doctors can, apply enormous data sets to transform retailing, and accomplish many tasks once considered uniquely human. As the full impact the second machine age pdf download free digital technologies is felt, we will realize immense bounty in the form of dazzling personal technology, advanced infrastructure, and near-boundless access to the cultural items that enrich our lives. Amid this bounty will also be wrenching change. Professions of all kinds—from lawyers to truck drivers—will be forever upended. Companies will be forced to transform or die. Recent economic indicators reflect this shift: the interpersonal communication book pdf free people are working, and wages are falling even as the second machine age pdf download free and profits soar. Chan Kim. Hunter Lovins. Keith Mobley. Lisa F. Rumbauskas, Jr. Barton Cunningham. Spencer Pickett. De Vries. Smart The second machine age pdf download free. Reboot Your Life. Your Future Depends on It. Bailey Jr. Robert Knechel. PDF | On Nov 1, , Xiaojing Dong and others published The Second Machine Age: Work, Progress, and Join for free Download full-text PDF Just as steam power was the initial driver of the first machine age. MIT Initiative on the Digital Economy. The Second. Machine Age. Erik Brynjolfsson. MIT Sloan School. Director, MIT Initiative on the Digital Economy. @erikbryn. 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But what if you could have your computer do them for you? As the full impact of digital technologies is felt, we will realize immense bounty in the form of dazzling personal technology, advanced infrastructure, and near-boundless access to the cultural items that enrich our lives. Other countries are also transforming themselves in fundamental ways.