1 hours ago
The "AI Job Apocalypse" Is a Complete Fantasy
“Permanent Underclass” panic isn’t a convincing story. It isn’t even a new story. It’s the “lump-of-labor” fallacy, with updated branding.
> The claim that AI will produce economy-wide, permanent unemployment is unhelpful marketing, bad economics and worse history.
> To the contrary, productivity gains should increase demand for labor, because labor becomes more valuable.
> History shows agriculture automation eliminated 30% of jobs but tripled output
> AI is augmenting more jobs than it substitutes, as of now, AI-as-augmentation out-mentions AI-as-substitution on earnings calls by ~8:1.
> A real general-purpose tech reorganizes the economy and expands the frontier of useful work.
> The majority of new jobs created since 1940 didn’t even exist in 1940. There is no fixed "lump of labor”, new technologies create new jobs👇
Source: https://x.com/DavidGeorge83/statu...
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〽️ Crypto Pulse 👉 @degendaoinfo #crypto
“Permanent Underclass” panic isn’t a convincing story. It isn’t even a new story. It’s the “lump-of-labor” fallacy, with updated branding.
> The claim that AI will produce economy-wide, permanent unemployment is unhelpful marketing, bad economics and worse history.
> To the contrary, productivity gains should increase demand for labor, because labor becomes more valuable.
> History shows agriculture automation eliminated 30% of jobs but tripled output
> AI is augmenting more jobs than it substitutes, as of now, AI-as-augmentation out-mentions AI-as-substitution on earnings calls by ~8:1.
> A real general-purpose tech reorganizes the economy and expands the frontier of useful work.
> The majority of new jobs created since 1940 didn’t even exist in 1940. There is no fixed "lump of labor”, new technologies create new jobs👇
Source: https://x.com/DavidGeorge83/statu...
_
〽️ Crypto Pulse 👉 @degendaoinfo #crypto
