I doubt that AI is going show up in productivity figures so early in the game. So I agree that the labor market is the reason for the upshift. This is why central banks should probably formally adopt NGDP targeting... to keep the labor market tight.
We want a tight labor market as this pushes up wages and drives innovation.
I doubt that AI is going show up in productivity figures so early in the game. So I agree that the labor market is the reason for the upshift. This is why central banks should probably formally adopt NGDP targeting... to keep the labor market tight.
We want a tight labor market as this pushes up wages and drives innovation.
got spoiled with the links today. great as always! thanks james.