unSILOed with Greg LaBlanc cover image

unSILOed with Greg LaBlanc

456. Economic Growth in the Age of Automation with Carl Benedikt Frey

Aug 22, 2024
Carl Benedikt Frey, Dieter Schwarz Associate Professor of AI & Work at the Oxford Internet Institute, dives into the intersection of automation and economic growth. He discusses how historical technological shifts mirror today’s challenges, revealing the balance between job displacement and new industry creation. The conversation explores who benefits from AI's rise, the political implications of tech advancements, and the critical need for societal adaptation to ensure sustainable productivity. Insightful and thought-provoking, it's a deep look at our future workforce.
01:05:48

Podcast summary created with Snipd AI

Quick takeaways

  • Technological advancements throughout history have shown that economic growth can provoke both winners and losers in the labor market.
  • Understanding past industrial transitions is crucial for addressing contemporary challenges presented by automation and artificial intelligence.

Deep dives

The Role of Institutional Barriers in Economic Growth

Economic growth is influenced by both technological advancements and institutional barriers, which can act as obstacles to progress. Until the late 18th century, powerful interests, including elite groups and guilds, significantly hindered technological adoption, fearing the loss of jobs and income. This resistance to new technologies reflects a broader theme that productivity increases are rarely without winners and losers, as those displaced by technology often exert considerable influence in political arenas. The dynamics of historical resistance underline the importance of considering institutional power and its evolution over time in relation to economic growth.

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