The third argument for technological unemployment may be the most troubling of all. It goes beyond “temporary” maladjustments. As described in detail in chapters 8 and 9, recent advances in technology have created both winners and losers via skill-biased technical change, capital-biased technical change, and the proliferation of superstars in winner-take-all markets. This has reduced the demand for some types of work and skills. In a free market, prices adjust to restore equilibrium between supply and demand, and indeed, real wages have fallen for millions of people in the United States. In
