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I spent several years studying economics and I don't get the GDP growth predictions at all. To a first approximation, GDP (in the west) is household consumptio
by tuatoru 1y ago
I spent several years studying economics and I don't get the GDP growth predictions at all. To a first approximation, GDP (in the west) is household consumption.
The value prop for AI seems to be "will put millions out of work". That reduces household consumption, because, to a first approximation again, household spending is wages. We'll know we're in AI takeoff when we have a reduction in GDP, one much bigger than the Great Depression of 1929 - 1939, attributable to automation.
Edit: I see Kaiserpro said the same thing six hours ago.