Justin Wolfers on Republicans Attempts to Blame AI for Job Loss: ‘AI Is Not Yet Having a Market Impact on the Economy’

RUSH EXCERPT:
WOLFERS: "Well, by the way, AI is actually something that the government can help regulate. Nothing is a foregone conclusion. We actually get to shape how these technologies change our lives. Look, I can’t tell you about political rhetoric, but I can tell you about the truth. The truth is that AI is not yet having a market impact on the economy itself. The truth is, it will absolutely. We should be preparing. We should be debating the issues at length. But if you look at data on how many companies have been fundamentally transformed by the emergence of AI, my university is not. Miss now has not, and the folks at home know that their lives have not yet yet been fundamentally changed. What’s happened is we’re in a no hire, no fire economy. In turn, that hurts young people the most. Yours and my students, Jason, they’re graduating. If there’s no hiring going on, they’re the folks who are getting hurt the most. But it’s not just that the unemployment rate has been drifting up. It’s now up to 4.5%. was it 4% when the president was elected? It’s been as low as 3.5%. this just isn’t the sort of healthy economy that we were hoping for."