Why are there still so many jobs? Given how rapidly technology has marched forward, why can’t the machines do all our work for us? The economist David Autor, one of the world’s leading experts on how technological change impacts the labor market, answers this question in a great TEDx talk.

“Why are there so many jobs? There are actually two fundamental economic principles at stake. One has to do with human genius and creativity. The other has to do with human insatiability, or greed, if you like. I’m going to call the first of these the O-ring principle, and it determines the type of work that we do. The second principle is the never-get-enough principle, and it determines how many jobs there actually are.”

In addition to explaining what’s happening in the labor market, Dr. Autor offers some interesting thoughts on how policy should respond to technological change.

You can watch the full talk here, and below.