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The three topics of this book - technological change, education, and inequality - are intricately related in a kind of 'race.' During the first three-quarters of the twentieth century, the rising supply of educated workers outstripped the increased demand caused by technological advances. Higher real incomes were accompanied by lower inequality. But during the last two decades of the century the reverse was the case, and there was sharply rising inequality. Put another way, in the first half of the century, education raced ahead of technology, but later in the century, technology raced ahead of educational gains. The skill bias of technology did not change much across the century, nor did its rate of change. Rather, the sharp rise in inequality was largely due to an educational slowdown.
