What impact will AI have on jobs and the economy? (with Anton Korinek)
About this episode
The episode discusses the potential impacts of AI on jobs and the economy, exploring various economic theories and implications of automation.
Read the full transcript here. Could AI trigger an economic break as large as the Industrial Revolution, or even larger? What changes when labor stops being the main bottleneck in production? If intelligence becomes reproducible like software, what happens to the structure of an economy? How should we think about a world where capital captures what labor once did? Does faster growth necessarily mean better lives, or only more output? How should economists model an economy when software begins to substitute for minds? Are current production functions adequate for a world of autonomous systems and robotics? Why do small shifts in annual productivity matter so much once compounding takes over? How much of AI’s impact depends on cognitive automation alone versus full physical automation? When does automation reduce labor demand, and when does it make human work more valuable? If AI does part of a job better, does that destroy the profession or increase demand for it? Under what conditions do humans remain complements rather than substitutes? Could an AI boom create a recession before it creates abundance? What happens to aggregate demand if white collar workers lose income before…
People in this episode
Host: Spencer Greenberg
Guest: Anton Korinek
Topics covered
- AI impact on jobs
- economy
- automation
- productivity
- labor market
- economic structure
Keywords
- AI
- jobs
- economy
- automation
- productivity
- labor demand
- economic growth
- cognitive automation
- wealth concentration
Mentioned in this episode
Organizations: University of Virginia, Department of Economics
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