Will new technologies cause industries to shed jobs, requiring novel policies to address mass unemployment? Sometimes productivity-enhancing technology increases industry employment instead. In manufacturing, jobs grew along with productivity for a century or more; only later did productivity...

Institutional and technological change is a highly topical subject. At the theoretical level, there is much debate in the field of institutional economics about the role of technological change in endogenous growth theory. At a practical policy level, arguments rage about how Japan and the...