LFP 130: Gerry Tsoukalas and Brett Falk - The AI Automation Layoff Trap

This episode continues our investigation into the implications of advanced AI for jobs, and specifically, how to design an economic system that makes a huge success of full automation by AI. Back in 2017, Bill Gates mused that governments should address radical automation by taxing robots. Gates may not have known it at the time, but he was suggesting a Pigouvian tax. In a 1920 book called “The Economics of Welfare”, Arthur Pigou proposed levying taxes on activities that generate negative ext...