Guest Essay: Fear-Based Reactions to AI Pose Greater Economic Risk Than the Technology Itself
By
Robert J. Shiller
Summary
This guest essay argues that excessive fear-mongering about AI's impact on jobs—termed "doomaxxing"—is more harmful to the economy than AI itself. The author notes that since ChatGPT's release in 2022, tech leaders have amplified warnings about job losses, leading 70% of Americans to believe AI will reduce employment opportunities. While the author agrees AI could lower employment, the piece suggests that consumer fear-based reactions to AI are a greater economic concern than the technology's actual impact.
Source
Twitter / XGuest Essay: Fear-Based Reactions to AI Pose Greater Economic Risk Than the Technology Itselfnytimes.comKey quotes
· 5 pulledMoments after ChatGPT was released in 2022, its emergence swiftly unleashed a flood of alarming prognostications, including the possibility of enormous job losses.
Many of those warnings were emanating from the leaders of the technology themselves.
Little wonder that Americans are now highly worried about the impact A.I. will have on their futures, with a recent poll finding that 70 percent believe that the technology will reduce employment opportunities.
Like many others, I believe A.I. could lower employment.
The economic impact of A.I. is less concerning than consumers' fear-based reactions to it.
You might also wanna read
Fear-mongering about AI job losses harms the economy more than AI itself
This guest essay argues that excessive fear-mongering about AI's impact on jobs — dubbed "doomaxxing" — is more harmful to the economy than
nytimes.com·9d ago
AI job displacement fears are rising, but governments have time to prepare safety nets
The article discusses the widespread fear that AI, particularly since ChatGPT's launch in 2022, will lead to massive job losses. Despite rec
econ.st·1mo ago
Poll: 73% of working-class US voters fear AI-driven job losses, support government intervention
A new poll commissioned by Working Families Power and conducted by Justice Research Group surveyed 2,500 working-class American voters about
commondreams.org·10d ago
Peer-reviewed paper backs claim that AI-driven job loss could trigger economic collapse
The article discusses a popular internet meme suggesting that the AI revolution is self-defeating: if AI eliminates all jobs, nobody can buy
medium.com·1mo ago
What labor data actually reveals about AI's impact on jobs
The article challenges the widespread hysteria about AI wiping out jobs, arguing that current labor statistics do not support doomsday scena
technologyreview.com·1mo agoWhat labor data actually reveals about AI's impact on jobs
The article challenges the widespread hysteria about AI wiping out jobs, arguing that current labor statistics do not support doomsday scena
technologyreview.com·1mo ago
AI-driven job anxiety reaches record levels among American workers
Americans are at historic lows in optimism about long-term employment, with 22% believing they could lose their job in the next five years—h
econ.st·1mo ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.