From Cambridge to Eternity: “AI vs. Job Loss 02”
Hated by the former US president Harry S. Truman, the economy has two hands. Where there is a “take,” there is a “give.” Where there is no “give,” there is no “take.” More generally, where there is an action, there is a reaction and vice versa . Therefore, there in the economy is no such thing as “equilibrium” or ceteris paribus . In other words, an “organism in equilibrium” must be an oxymoron in the worse sense; a life on the Isle of the Dead? In the first place, none of us in the hat of “the household” of economics would like to be put to “equilibrium” in any sense of the term. The Concern: “AI and Job Loss ” Don’t worry, be even happier! Where there is demand for AI, there will eventually be supply of AI. Where there is no demand for AI, there is absolutely no supply of AI in and from the right mind. Scenario #1 . Suppose AI’s...