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- Title
AI, Budget Defecits and the Aging Crisis.
- Authors
BAKER, DEAN
- Abstract
The article discusses the contradictory assumptions made in economic policy debates regarding the impact of AI on jobs, budget deficits, and the aging population. The author argues that the concern over AI taking all the jobs is in direct opposition to the concerns about budget deficits and an aging population. The author suggests that if AI does reduce the demand for labor, then there is no need to worry about budget deficits or the ratio of retirees to workers, as AI will provide the goods and services needed. The author also emphasizes the importance of ensuring that the benefits of increased productivity from AI are shared widely through government policies such as a higher minimum wage and a reduced workweek.
- Subjects
BUDGET; ARTIFICIAL intelligence; WAGE increases; OVERTIME pay; BUDGET deficits
- Publication
CounterPunch, 2024, p1
- ISSN
1086-2323
- Publication type
Article