Best of CapX: Labour are a bigger threat to jobs than AI
‘The only thing more power-hungry than AI are, of course, leftist politicians themselves.’
Economist William Stanley Jevons noticed that making a technology more efficient means people will use it a lot more, rather than less — his example was coal and the steam engine. James Price argues the same holds for AI. In the US, AI has created a million jobs to the 200,000 job losses it gets blamed for. Britain is an outlier because Labour made hiring more expensive and firing harder.
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