🌐 Global Economy 8h ago · Alex Tabarrok

AI, Unemployment and Work

Marginal Revolution
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Imagine I told you that AI was going to create a 40% unemployment rate. Sounds bad, right? Catastrophic even. Now imagine I told you that AI was going to create a 3-day working week. Sounds great, right? Wonderful even. Yet to a first approximation these are the same thing. 60% of people employed and 40% unemployed is the same number of working hours as 100% employed at 60% of the hours.
So even if you think AI is going to have a tremendous effect on work, the difference between catastrophe and

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