Before information age, living standards basically were flat. Since then, they've been growing 2 percent a year were about 30 times richer. So technology, machines is really, you know, arguably the most important thing that's happened to humanity in terms of our living standards. You could look to the introduction of digital computers in the 1950s.

Technology is always creating jobs. It's always destroying jobs.

Now comes the second machine age. Computers and other digital advances are doing for mental power - the ability to use our brains to understand and shape our environments-what the steam engine and its descendants did for muscle power.

What can we do to create shared prosperity? The answer is not to try to slow down technology. Instead of racing against the machine, we need to learn to race with the machine.

For a long time, the humans are going to be better than the machines and so different parts of the job will be leveraged. In a way that's happened for centuries, and we've adapted. And it's made the people who had parts of their jobs automated more valuable and more productive to the extent that they are essential for the other components of their jobs.

Computers get better faster than anything else ever. A child's PlayStation today is more powerful than a military supercomputer from 1996.

Computers get better, faster than anything else ever. A child's PlayStation today is more powerful than a military supercomputer from 1996. But our brains are wired for a linear world. As a result, exponential trends take us by surprise. I used to teach my students that there are some things, you know, computers just aren't good at like driving a car through traffic.