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The Latest Breaking News from Robert Solow

Employees using AI are working faster, but the economy isn't more efficient. A look at what happened in the pre-Internet era might explain why

The U.S. might be in the early days of a productivity boom without even knowing it.

Fortune

Thousands of CEOs admit AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago

In the 1980s, economist Robert Solow made an observation that reminded economists of today’s AI boom: “You can see the computer age everywhere but in the productivity statistics.”

Fortune

$CFOs admit privately that AI layoffs will be 9x higher this year—and still a fraction of 'doomsday' predictions$

CFOs admit privately that AI layoffs will be 9x higher this year—and still a fraction of 'doomsday' predictions

A survey conducted by Duke in partnership with the Federal Reserve Banks of Atlanta and Richmond sheds fresh light on the AI jobs wipeout.

Fortune

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Thousands of CEOs just admitted AI had no impact on employment or productivity—and it has economists resurrecting a paradox from 40 years ago

In the 1980s, economist Robert Solow made an observation that reminded economists of today’s AI boom: “You can see the computer age everywhere but in the productivity statistics.”

Fortune

How this year’s Nobel winners changed the thinking on economic growth

What makes some countries rich and others poor? Is there any action a country can take to improve living standards for its citizens? Economists have wondered about this for centuries. If the answer to the second question is yes, then the impact on people’s lives could be staggering.

The Conversation

BofA sees the replacement of people with process solving the 'productivity paradox,' because 'A process is almost free and it's replicable for eternity'

"I think people love this AI technology because it feels like sorcery," BofA's Savita Subramanian said. "The truth is it hasn't really changed the world that much yet, but I don't think it's something to be dismissed."

Fortune

Trump was playing chicken with tariffs. Then he chickened out

In a second term of fiat, flubbing and flip–flopping, Trump pursued his desire to wield a club over everyone and everything

The Guardian - US

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How many jobs will AI eliminate? Nobody really knows, and here’s why

As AI becomes more prevalent in the workplace, there are still too many unknowns to take forecasts of employment doom too seriously.

Fortune

AI's big selling point of boosting worker productivity is so far a phantom

It looks like a return to Solow's Paradox as CEO views of AI's advantage diverge.

Fortune

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

Pointing to big changes that have greatly affected Australia's capacity to deliver rising standards of living, top economist Ross Garnaut calls for a major policy overhaul.

ABC News

Wealth of nations: Why some are rich, others are poor – and what it means for future prosperity

Why are some nations rich and others poor? Can the governments of poor nations do something to ensure that their nations become rich? These sorts of questions have long fascinated public officials and economists, at least since Adam Smith, the prominent Scottish economist whose famous 1776 book was titled “An…

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