acemaxx(This is why we need #BigFiscal) When aggregate #demand falls beneath the economy’s potential output, then #unemployment rises, chart @economicpolicy https://www.epi.org/publication/ai-unbalanced-labor-markets/?mc_cid=6be5e7b363
Unbalanced labor market power is what makes technology—including AI—threatening to workers: The best “AI policy” to protect workers is boosting their bargaining position
The root causes of sluggish wage growth for most workers are intentional policy decisions that have led to an extreme imbalance of power between employers and typical workers–technological advances, like AI, have little to do with this and are too frequently invoked as a distraction from these deeper problems.
