In this follow-up to the New York Times bestseller The Great Stagnation, renowned economist and author of Big Business Tyler Cowen offers a pioneering examination of capitalism, the labor market, and the widening gap between the one percent and minimum wage employees.
The US continues to produce more millionaires and billionaires than any other country in history. Despite this, three quarters of the employment generated here during the Great Recession pay only slightly more than minimum wage. Why does growth occur exclusively at the top and bottom of the pyramid?
Tyler Cowen, an economist and bestselling author, describes how elite earners are increasingly leveraging artificial intelligence to get ever-better results. Meanwhile, practically every industry is relying less and less on manual labor, which means that a steady, secure life in the middle—average—is no longer possible.
Cowen lays out how the new economy works and specifies what employees and entrepreneurs of all ages must do to prosper in this drastically different economic landscape in Average is Over.
Tyler Cowen is an economist, columnist, and blogger from the United States. He is a professor of economics at George Mason University, where he holds the Holbert L. Harris chair. Together with co-author Alex Tabarrok, he runs the economics blog Marginal Revolution.
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