Kevin Hassett Says GDP Will Soar But More Workers Will Be Fired As AI Automation Productivity Increases

Source: DumbMoneyMedia

2 Comments

  1. Of course the fix is to tax automation to put in a price floor to labor as the tariffs put in a price floor for foreign goods, but what is good for the goose is never good for the gander when it comes to profit. 

    Household profit can f itself, but business profits are golden.

  2. SupremelyUneducated on

    This is more because the disposable income that creates jobs, is being consolidated by “property rights” that reward privilege rather than merit.

    The real fix is recognizing privileges exclude, and rights are innately inclusive. If we want a merit based system that reduces prices (the opposite of rent seeking price increases), we need property rights that are innately inclusive; aka that respect the lockean proviso. LVT + UBI is the cleanest approach to rewarding merit rather than privilege.

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