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Walt Johnson in the news
Man vs. Machine: Behind the Jobless Recovery
17 January 2012 | Wall Street Journal
by Timothy Aeppel
"The trend toward using labor-saving machines and software isn't limited to factories. W. Brian Arthur, an economist at PARC, says businesses are increasingly using computers and software in the place of people in the nation's vast service sector. Many companies, for instance, use automation to process orders or send bills. 'It's not just machines replacing people, though there's some of that,' Mr. Arthur says. 'It's much more the digitization of the whole economy.'"
Can the Jobs-and-Income Crisis End Well?
Some economists believe that today's grinding unemployment and slow growth are masking the transition to a vibrant digital economy
25 November 2011 | Bloomberg BusinessWeek
by Chris Farrell
"In recent writings, such scholars as Eric Brynjolfsson, Andrew McAfee, W. Brian Arthur, and Richard Florida, as well as consultants at McKinsey & Co., have made a strong case that we’re living through a transition toward an economy dominated by a digital ecosystem. 'Technological progress—in particular, improvements in computer hardware, software, and networks—has been so rapid and so surprising that many present-day organizations, institutions, policies, and mindsets are not keeping up,' write Brynjolfsson and McAfee, scholars at the MIT Sloan School of Management and authors of the e-book, Race Against the Machine. Adds Arthur, a visiting researcher with PARC in a McKinsey & Co. essay: 'Is this the biggest change since the Industrial Revolution? Well, without sticking my neck out too far, I believe so.'"