The speed at which occupational change occurs matters enormously. Labor markets have a natural adjustment rate—if careers last 30 years, roughly 3% of people retire yearly without layoffs. If an occupation disappears over 20 years, it's manageable; if it disappears in 7 years, it creates serious unemployment. Autonomous vehicles eliminating 3 million truck drivers overnight would be catastrophic, but over 25 years it's manageable.
causalpending
Speaker
David AutorEvidence Quote
“labor markets have a natural rate of adjustment...If autonomous vehicles come Labor Day this year replaced all long-distance drivers...that would be catastrophic...If it happened over 25 years...That's kind of a manageable problem [23:51]”
Created: 8/11/2026, 6:32:32 AM
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