Kevin Warsh Is Already Getting It Wrong |
Kevin Warsh Is Already Getting It Wrong
By Jared Bernstein and Janet L. Yellen
Mr. Bernstein was the chair of President Joe Biden’s Council of Economic Advisers from 2023 to 2025. Ms. Yellen was the Treasury secretary during the Biden administration.
Steam-powered looms, railroads, the internet: Technological breakthroughs such as these have powered economic growth by increasing efficiency, enabling people to make more with less.
Today, economists don’t know whether artificial intelligence will displace labor or augment it — whether the technology will make workers more efficient in their jobs or replace them. Either way,........