Event Date: March 9, 2017 - 2:00pm to 4:30pm Location: FSS 4004, 120 University Private
Presented by CIPS and the International Theory Network
Technology and innovation are fundamental determinants of sustained economic growth. In recent years two views have emerged. First is the so-called “racing with the machines” view that paints an optimistic picture for the coming decades. Under this view, ongoing technological advances and innovation are on the verge of a new era of rapid productivity gains and breakthroughs. Humans will continue to adapt to these changes and attain a high level of employment and prosperity. Second is the so called “running into the headwinds” view that portends a pessimistic picture. Rapid acceleration in technology will likely replace humans across a broad set of skills, and cause a surge in unemployment on a global scale.
Which scenario is more likely? What kinds of adjustments would the Canadian economy undergo? These are important questions to which one can only provide speculative answers. Nevertheless, we can gain deeper insights by studying the theoretical and empirical linkages between the forces that drive the economy over the short term (2-10 years) and those relevant for the medium term (10-20 years). We present a forward-looking analysis of these connections and their relevance for the Canadian economy.
Hashmat Khan is a Professor and Vice Chair/Co-Director in the Department of Economics at Carleton University. His PhD is from the University of British Colombia and he has published widely in the areas of nominal and real rigidities, DSGE models, and sources of business cycles. Professor Khan’s website is http://http-server.carleton.ca/~hashkhan/