How to Prepare for the AI Age: US-China, War, Job Loss | Tyler Cowen

In 'The Great Stagnation,' Tyler Cowen posits that the American economy has enjoyed 'low-hanging fruit' since the seventeenth century, including free land, immigrant labor, and powerful new technologies. However, over the last forty years, these easy resources have disappeared, and the economy has failed to recognize this shift. Cowen argues that this has led to a technological plateau, resulting in stagnant median wages and distorted political discourse. He also discusses the impact of the internet and other computing technologies, which, despite their benefits, have not significantly raised material standards of living. The book offers a critical look at the causes of the 2008 financial crisis and suggests potential solutions, including a greater respect for scientific innovations that benefit humanity as a whole.

In 'Average Is Over,' Tyler Cowen explains how the new economy is shaped by the increasing use of machine intelligence, leading to a significant gap between high earners who leverage technology and low earners who do not. The book discusses the erosion of middle-class jobs, the rise of a 'hyper-meritocracy,' and the need for workers and entrepreneurs to adapt to this new economic landscape. Cowen also provides insights into how education, job markets, and social dynamics will be affected by these changes.