Yascha Mounk and Luis Garicano discuss how AI will reshape labor markets, productivity, and economic growth:
Yascha Mounk: There are many things I would love to talk to you about, but the topic I have been thinking about a lot is artificial intelligence. I have had conversations on this podcast about the technology itself with people like Geoffrey Hinton. I have discussed the dimension of existential risk with people like one of the co-authors of If Anybody Builds It, Everyone Dies. I have also thought about some of the broader public policy angles.
However, I have not yet had a conversation specifically about the economics of artificial intelligence. It would be really interesting to try to get a handle on those questions. We will focus particularly on the labor market, but before we get there: what, in general, do you expect the impact of AI to be? Is it going to be major, middling, or minor? Is it going to lead to the vast economic growth some are predicting, or is it going to really decimate the number of jobs out there for humans? Is this going to be an economically revolutionary time, or is it just one of many developments that are interesting but ultimately not that consequential?
Luis Garicano: I don’t have a crystal ball—anticipating things is always hard. But let me give you my best take based on what we see.
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