This dynamic has likely contributed to weak wage growth in many countries over recent years.11 I think digitalization should be embraced, but we also need to decide how best to help those individuals who are adversely affected. As I said earlier, investing in education is at the top of the list for many. That includes investing in continuous learning.
Investments like these boost social mobility, and they have the added benefit of improving skills in the workforce, which in turn helps potential output growth. This hits home for me, and I’ll bet for many students in the audience. I haven’t stopped learning since I left university in the last century. Way back then, many things I’ve worked on—including blockchain and cryptocurrencies—didn’t even exist.