I know you specialize in macro, but do you see any significant short- to mid-term distributional effects of microeconomic factors? I accept that a significant amount if not the majority of the upward distribution of gains since, say, the 1970s can be attributed to rent-seeking and return on capital, but what are the measured impacts of, e.g., offshoring, deskilling and automation?
Nice to see you on the Hive, by the way. Appreciate you taking time over a holiday to join the discussion. 😀