A study authored by McElheran, Stanford economist Erik Brynjolffson and others found that when manufacturing companies adopted the pre-ChatGPT generation of AI technology, their productivity measures followed a J-curve: a substantial dip in the short term, followed by an upward trajectory as the firms figured out how to deploy the tools effectively, ironed out the kinks and trained staff. Mish: “But if no one is working – tell me who is paying the taxes, and who is buying what, with what money?” Grok: That’s a sharp question—it highlights a potential circular logic flaw in the universal high income (UHI) concept, especially in a fully jobless scenario where AI handles all production. But we heard that about farms where 90 percent of the people once worked, then to peak manufacturing (from 40 percent headed to 5 percent), to the internet and spreadsheets taking all the jobs (it expanded them) and now to AI taking every job.
Author: Editor
Published at: 2025-10-19 22:59:00
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