Average Is Over

The widening gap between rich and poor means dealing with one big, uncomfortable truth: if you're not at the top, you're at the bottom. The global labour market is undergoing radical changes, highlighted by growth at both the high end and the low. In the United States, about three quarters of the jobs created since the great recession pay only slightly more than minimum wage. Despite this, the country has produced more millionaires and billionaires than ever before, and continues to do so at an unprecedented rate.

In this eye-opening book, renowned economist and bestselling author Tyler Cowen explains this phenomenon. High earners are increasingly leveraging machine intelligence in data analysis to achieve superior results, while low earners who haven't committed to learning and adapting to new technologies face bleak prospects. Nearly every business sector is relying less and less on manual labour, forever altering the landscape of work and wages. The concept of a steady, secure life somewhere in the middle—average—is becoming obsolete.

With The Great Stagnation, Cowen illustrated why median wages stagnated over the past four decades. In Average Is Over, he reveals the essential nature of the new economy and identifies the best path forward for workers and entrepreneurs alike. Cowen provides readers with actionable advice to navigate and thrive in this new economic landscape.

This book offers a challenging and sober perspective, but ultimately conveys an exciting outlook. It is a must-read for anyone engaged in debates about our nation's economic future, providing insights and strategies that are impossible to ignore. The profound shifts in the job market and economy that Cowen explores will inspire a new level of understanding and proactive planning for the future.