Whatever the cause, the timing is obviously terrible: Plenty of people surely received one of the two consoles as Christmas presents today, while many more gamers would have happily spent the afternoon in front of the TV. In the meantime, both Sony and Microsoft have acknowledged the problem, with Sony issuing a tweet and Microsoft posting a message on its support website: "We're working to address this as quickly as we possibly can," reads its status website. "Thanks for your patience, Xbox members." In an email, a Microsoft spokesperson declined to comment further or say when the company expects to restore service. We've also asked Sony to comment and will update this post if and when it does. The Xbox Live status page says service remains "limited," and the Playstation Network is listed as offline.
When the University of Chicago asked a panel of leading economists about automation, 76 percent agreed that it had not historically decreased employment. But when asked about the more recent past, they were less sanguine. About 33 percent said technology was a central reason that median wages had been stagnant over the past decade, 20 percent said it was not and 29 percent were unsure. Perhaps the most worrisome development is how poorly the job market is already functioning for many workers. More than 16 percent of men between the ages of 25 and 54 are not working, up from 5 percent in the late 1960s; 30 percent of women in this age group are not working, up from 25 percent in the late 1990s. For those who are working, wage growth has been weak, while corporate profits have surged. "We're going to enter a world in which there's more wealth and less need to work," says Erik Brynjolfsson. "That should be good news. But if we just put it on autopilot, there's no guarantee this will work out."