Marx, Keynes, and AI

There’s a recent paper by two economists called “The AI Layoff Trap.” It includes a ton of math I can’t understand, but I get the basic idea. I’ll show you the abstract: If AI displaces human workers faster than the economy can reabsorb them, it risks eroding the very consumer demand firms depend on. We show that knowing this is not enough for firms to stop it. In a competitive task-based model of...