European and Latin American Experiences
Edited by Noemi Levy and Etelberto Ortiz
Chapter 6: Inequality, technological change and worldwide economic recovery
AbstractIn the chapter, ‘Inequality, technological change and worldwide economic recovery,’ the author argues that the financial system becomes dysfunctional when it is uncoupled from the productive sector, because it promotes non-productive activities that produce large short-term profits, accompanied by technological development that leads to unemployment as a result of digital technology and artificial intelligence. In addition, the combination of these processes slows down economic growth and leads to income concentration, preventing full economic development.
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