AI summary
As AI threatens mass unemployment, the job guarantee concept is resurfacing as a potential policy solution to prevent severe economic and social crises.
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Is a job guarantee the solution to mass AI unemployment?
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An old idea springs anew as a chorus of influential voices predicts that AI may trigger crises of vast magnitudeIn a preface to his book Capitalism and Freedom, the American economist Milton Friedman famously observed that a crisis can propel once-fringe ideas into the political mainstream.“Only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around,” he wrote. The job of intellectuals, thinktanks and economists, he argued, is to refine the quality of these ambient ideas, so that good ones are ready when disaster strikes. Continue reading...
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