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AI in the economy

The Reith Lectures

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The Direct Effects of Technology: Increasing Employment and Decreasing Demand

The direct effects of technology can work both ways./nTechnology can initially increase employment./nFurther increases in technology can lead to a decrease in employment./nThe economist James Besson coined the term "inverted u curve" to describe this phenomenon./nThe employment impact of technological advances is dependent on where one is on the curve.

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