Related papers: Resolving the automation paradox: falling labor sh…
Artificial intelligence (AI) is reshaping the labor market by changing the task content of occupations. This study investigates the impact of AI development on the emergence of new work, employment, and wages in the United States from 2015…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…
It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
Artificial Intelligence (AI) will change human work by taking over specific job tasks, but there is a debate which tasks are susceptible to automation, and whether AI will augment or replace workers and affect wages. By combining data on…
The welfare of modern societies has been intrinsically linked to wage labour. With some exceptions, the modern human has to sell her labour-power to be able reproduce biologically and socially. Thus, a lingering fear of technological…
The Fourth Industrial Revolution commonly refers to the accelerating technological transformation that has been taking place in the 21st century. Economic growth theories which treat the accumulation of knowledge and its effect on…
We analyze how output and wages behave under different scenarios for technological progress that may culminate in Artificial General Intelligence (AGI), defined as the ability of AI systems to perform all tasks that humans can perform. We…
Common narratives about automation often pit new technologies against workers. The introduction of advanced machine tools, industrial robots, and AI have all been met with concern that technological progress will mean fewer jobs. However,…
An increasingly large number of experiments study the labor productivity effects of automation technologies such as generative algorithms. A popular question in these experiments relates to inequality: does the technology increase output…
Work is fundamental to societal prosperity and mental health, providing financial security, identity, purpose, and social integration. The emergence of generative artificial intelligence (AI) has catalysed debate on job displacement. Some…
The emergence of Artificial General Intelligence (AGI) labor, including AI agents and autonomous systems operating at near-zero marginal cost, reduces the marginal productivity of human labor, ultimately pushing wages toward zero. As AGI…
We argue that the recent growth in income inequality is driven by disparate growth in investment income rather than by disparate growth in wages. Specifically, we present evidence that real wages are flat across a range of professions,…
Future advances in AI that automate away human labor may have stark implications for labor markets and inequality. This paper proposes a framework to analyze the effects of specific types of AI systems on the labor market, based on how much…
Labor plays a major, albeit largely unrecognized role in the development of artificial intelligence. Machine learning algorithms are predicated on data-intensive processes that rely on humans to execute repetitive and difficult-to-automate,…
Artificial Intelligence's (AI) rapid development and growth not only transformed industries but also fired up important debates about its impacts on employment, resource allocation, and the ethics involved in decision-making. It serves to…
A central question in economics is whether automation will displace human labor and diminish standards of living. Whilst prior works typically frame this question as a competition between human labor and machines, we frame it as a…
The integration of Artificial General Intelligence (AGI) into economic production represents a transformative shift with profound implications for labor markets, income distribution, and technological growth. This study extends the Constant…
Generative Artificial Intelligence constitutes a new wave of automation. There is broad agreement among economists that humanity is potentially entering into a period of profound change. However, significant uncertainties and disagreements…
As artificial intelligence and robotics increasingly reshape the global labor market, understanding public perceptions of these technologies becomes critical. We examine how these perceptions have evolved across Latin America, using survey…
There is significant concern that technological advances, especially in Robotics and Artificial Intelligence (AI), could lead to high levels of unemployment in the coming decades. Studies have estimated that around half of all current jobs…