Public Policy in an AI Economy
This paper considers the role of policy in an AI-intensive economy (interpreting AI broadly). It emphasizes the speed of adoption of the technology for the impact on the job market and the implications for inequality across people and across places. It also discusses the challenges of enacting a Universal Basic Income as a response to widespread AI adoption, discuss pricing, privacy and competition policy the question of whether AI could improve policy making itself.
I wish to thank the participants at the NBER Artificial Intelligence conference for helpful comments and the Initiative on Global Markets at the University of Chicago Booth School of Business for financial support. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.
Public Policy in an AI Economy, Austan Goolsbee. in The Economics of Artificial Intelligence: An Agenda, Agrawal, Gans, and Goldfarb. 2019