History suggests that in the long term, fears of technology leading to job loss and reduced wages are misplaced. But in the short and medium term, dislocation can be severe for certain types of work, places and populations. This column argues that in the transition period, policies are needed to facilitate labour market flexibility and mobility, to introduce and strengthen safety nets and social protection, and to improve education and training.
Norman LoayzaLead Economist, Development Research Group, World Bank
Norman Loayza currently heads the World Bank's research hub for Asia, based in Kuala Lumpur, Malaysia. Most recently, he was director of the World Development Report 2014, Risk and Opportunity: Risk Management for Development. Norman is Peruvian and holds a Ph.D. in economics from Harvard University, awarded in 1994. Since then he has worked in the World Bank research group, except in 1999-2000 when he was a senior economist at the Central Bank of Chile. Norman's research has addressed various areas of economic and social development, including macroeconomic management through monetary and fiscal policy, reforms for economic growth and productivity, an analysis of investment returns and risks across the world. His advisory experience at the World Bank has covered several regions and countries of the world, including Brazil, Colombia, Egypt, Georgia, India, Indonesia, Malaysia, Pakistan, Peru, Sri Lanka, and Tunisia. Norman has edited 10 books and published over 50 articles in professional journals and books.