Digital Revolution and Social Economical Impact

DIGITAL REVOLUTION AND SOCIAL ECONOMICAL IMPACT

KOEN DE LEUSBrussels, 25/11/2016

Crowd Sourcing - Brussels 2

What is happening?

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Swamped with black swans

Crowd Sourcing - Brussels

… and losers

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The Elephant Chart

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Source: Branko Milanovic

Crowd Sourcing - Brussels

1967

1970

1973

1976

1979

1982

1985

1988

1991

1994

1997

2000

2003

2006

2009

2012

95

115

135

155

175

195

215

Highest Lowest Middle Top-5%Source: Thomson Reuters

+75%

+20%

+90%

It’s getting better…for some

Income evolution US (per quintile)


Hollowing out of middle class in US …


… and in the European Union


Source: Goos, Manning, Salamons (2014)

Change in occupational employment(shares in low, middle and high-wage occupations in 16 EU countries, 1993-2010)

… just like happened during earlier industrial revolutions


Everything turned out fine eventually


1913

1918

1923

1928

1933

1938

1943

1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2003

2008

2013

0

5

10

15

20

25 US: Income top-1%, top-0,1% and top-0,01%

Top 1% Top 0,1% Top 0,01%

Source: The World Wealth and Income database

Same old story?


Jobs at risk


Also in emerging markets


Substution versus …


… increase in wealth and creation of new jobs



Boy cry wolf?

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US Participation rate: 25-54 year olds

Basic income


Who will pay?



Thank you

25/11/2016

DIGITAL REVOLUTION AND SOCIAL ECONOMICAL IMPACT

KOEN DE LEUSBrussels, 25/11/2016

Digital Revolution and Social Economical Impact

Economy & Finance

Transcript of Digital Revolution and Social Economical Impact