Classical and especially neoclassical economic theories are built on the assumption that, under competitive market conditions, economic actors will allocate resources more efficiently. Yet today, particularly in the service and financial sectors, millions of jobs have emerged that appear meaningless, generate no social benefit, and are often regarded as unnecessary even by those who perform them. By analyzing the mechanisms through which these jobs arise in terms of corporate

Abstract Despite widespread enthusiasm about artificial intelligence (AI) and its potential to reshape productivity , adoption in the...

In 1950, nearly one in three American workers had a job in manufacturing. Today, it's fewer than one in twelve. Despite decades of...