3 comments

  • exceptione an hour ago

    Fairly nuanced ELI5 take from prof. Wolfers.

  • paretolaw an hour ago

    Why would company pay worker more?

    Also, AI makes workers do more for a less.

      exceptione 34 minutes ago

        > Why would company pay worker more?
      
      When the worker has bargaining power, i.e. when demand for labor exceeds availability (and if companies don't collude). The big problem for workers here is globalization, which the article goes into as well.

        > Also, AI makes workers do more for a less.
      
      The article touches that briefly:

        If AI makes workers more productive and workers share in those gains, we get higher wages, better jobs, shorter workweeks, and a richer society.
      
        But if AI mostly replace workers with computers — and the gains flow overwhelmingly to the people who own the technology — then the pie gets bigger but most workers won’t gain much (and may even lose).
      
      The million dollar question is of course whether or not AI will devalue labor or whether it will make labor more valuable. Afaik, there is no conclusive evidence for either position.