#29 – Phil Trammell on Economic Growth under Transformative AI
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The Tension Between a Fall and the Labor Share and a Rise in Inequality
If you do get transformative growth of any kind, the labor share falls to zero or something very low. The tension is that whether the labor share stays constant is all about whether labor remains a bottleneck. If labor is still a bottleneck, then labor will still be getting most of the pie. Once labor starts being a bottleneck, absolute wages could go up or down but the labor share will fall.
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