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Not necessarily. You could have 100 FTE on reports instead of 300 FTE in a large company like a bank. That means 200 people who'd normally go into reporting job
by NoLinkToMe 8mo ago
Not necessarily. You could have 100 FTE on reports instead of 300 FTE in a large company like a bank. That means 200 people who'd normally go into reporting jobs over the next decade, will go into something else, producing something else ontop of the reports that continue to be produced. The sum of this is more production.
Looking at job numbers that seems to be happening. A lot less employment needed, freeing up people to do other things.
- b40d-48b2-979e 8mo agoLooking at job numbers That is a wild take given the recession we're basically in from bad US policy like tariffs.
- NoLinkToMe 8mo agoActually job numbers are depressed (hiring recession) and GDP numbers are still way up, both precisely due to the AI investment. More output with fewer people. Wild take to cite a recession when last quarter growth was 4.4%.
- b40d-48b2-979e 8mo ago"The economy" is not GDP.
- warkdarrior 8mo agoIt is for the wealthy. And nobody cares what the economy is like for everyone else.
- NoLinkToMe 8mo agoFirstly, nobody said 'the economy' so I don't know why you're even putting it in quotation marks. Secondly, GDP is the best measure of output / value-add we have, and it's significantly up, despite jobs being down. Output going up with fewer people means more productivity. That's the point that was being made. Recessions are measured in economics by tracking GDP, which the person I replied to said we're in. We're not. Whatever concept of "the economy" you had in mind to bring more nuance and refinement to a discussion, which is possible and welcome, and which you haven't bothered to add, doesn't refute the basics above.
- JoelMcCracken 8mo agoI’m not in favor of these tariffs. At all. However, it seems that they haven’t had such an impact yet on the economy, at least regarding consumer prices. You’d expect much larger inflation given the tariffs IIUC. My current understanding of the general consensus is that many companies have been eating the tariffs with the hope SCOTUS will strike them. If they are upheld, prices will likely rise significantly