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Productivity and unemployment move together — the man-versus-machine zero-sum is doubtful

Photo by Boston Public Library / Unsplash

One of the recurring themes in recent debate is that more powerful artificial intelligence means more job losses, with the Magnificent Seven — the very companies driving the technology — seemingly first in the firing line. Yet large corporations routinely shed staff as a matter of course; so long as new positions are created in greater numbers, the net effect on unemployment need not be negative. But will that actually be the case?

KC Law (Economist)

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KC Law (Economist)

Law Ka Chung is a Hong Kong economist and financial columnist.

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