High unemployment means fewer consumption spending, which according to Adam smith is the invisible hand fueling the economy. Remove this hand so to speak, and t

High unemployment means fewer consumption spending, which according to Adam smith is the invisible hand fueling the economy. Remove this hand so to speak, and the economic cycle is at risk of being disrupted. Think of an economy like an ecological environment entangled with interdependence. I think generally it’s hard to think that modern economics has only really exist for the past couple hundred years. The last major shift that created it? The cotton gin starting the Industrial Revolution. AI is akin to the cotton gin.