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NEW WORLD ORDER Labor, CAPITAL and ideas in the power law economy

NEW WORLD ORDER Labor, CAPITAL and ideas in the power law economy. Antti Kauppila , Tommi Vallas , Jesse Karjalainen. Structure. Summary Key message Reasons behind Implications Proposed solution Criticism. Key message. Scarcity of inputs - Present. Present. Future.

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NEW WORLD ORDER Labor, CAPITAL and ideas in the power law economy

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  1. NEW WORLD ORDERLabor, CAPITAL and ideas in the power law economy AnttiKauppila, TommiVallas, Jesse Karjalainen

  2. Structure Summary Key message Reasons behind Implications Proposed solution Criticism

  3. Key message

  4. Scarcity of inputs - Present Present Future DEVELOPING COUNTRIES DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING COUNTRIES DEVELOPED COUNTRIES DEVELOPING COUNTRIES

  5. Power Law Economy

  6. Reasons behind 1 2 3

  7. Implications

  8. The solutions • Adjust and adapt • Educatedworkforce and an entrepreneurial culture • Public investments in high-qualitybasicservices

  9. Critique • Lack of empirical evidence • The access to cheap labor will continue to matter • Not everything is economically viable to automate High production amount High product variety

  10. Critique • Why would the second machine age be different from the first one? • Although structural changes tend to wipe old jobs away, they to tend to create new ones in return • Digital capital is not always accessible for “next to zero cost” replication • Ideas are not everything • Skilled labor and capital is needed for execution

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