Michael S. Barr

AI may instead exacerbate inequality, eliminating some lower- and middle-income jobs while boosting the income and wealth of higher-income individuals. Since we don't know which of these futures will come about, it is useful to use potential scenario...

Society would have to rethink the social safety net to ensure that the gains from unprecedented economic growth are shared rather than concentrated among a small group of capital holders and AI superstars.

AI-centric start-ups with radically new business models displace firms that are unable to adapt, and layoffs soar, leading to widespread unemployment in the short run and declines in labor force participation over time, as a large share of the popula...