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Got a raise? Fear the robots

The Economist’s Ryan Avent published a terrific magnum opus over the weekend suggesting that wage increases and automation are closely intertwined.

Mr. Avent writes, “whether or not a task is automated depends upon the relative supply – and the real wage – of workers of various skill levels.”

The implication is that the long awaited inflation-adjusted growth in U.S. wages – which finally appears to be happening – will be self-limiting.