By the 2010s, people had begun to notice that there had been no mass unemployment of bank tellers. In 2015, James Bessen published a book called Learning by Doing, using the non-automation of bank tellers as a central example; soon it became a sort of load-bearing parable about what Matt Yglesias called “the myth of technological unemployment.” From Bessen the story diffused to Autor and Acemoglu; then to the economics bloggers; then to people like Eric Schmidt, who cited the ATM story in 2017 as one reason why he was a “denier” on the question of technological job loss. And they were right: ATMs really didn’t reduce bank teller employment.
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