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"In ZIP codes where poor people encounter a higher share of rich people daily, there’s a higher degree of cross-class friendships."

"We do see people leaving low wage jobs. They are starting businesses, and the businesses are doing great because there's money around."

An AI assistant rolled out this year lifted the productivity of customer-support agents by 35%.

"When there's not a competitive threat, they're not making that investment. And quality is lower."

"I don't think these employer actions will insulate these companies from getting organized."

"The 'Geek Way' is an upgrade to the company, it's a better set of philosophies and practices for running this thing we call a company."

Are boomers or doomers more likely to be right in their AI predictions?

"Dollarizing with a shortage of dollars stinks. The country must primarily address its chronic fiscal problem.

Richard Schmalensee's research has focused on industrial organization economics and its application to management and public policy issues.