chfritz
3 hours ago
> this essay looks at how AI and automation are flattening the Phillips curve
Sounds like a causal relationship between a very narrowly focused observation (more AI + robots) and a very general phenomenon (Phillips curve flattening). This is a futile hypothesis to begin with.
> There is an entire industry in trying to understand the changing curve, and I will just lay out the main arguments made.
And then you just go and dismiss them, without providing evidence, just to claim (not prove or support) that your own theory is a better explanation, i.e., AI and Robots are to blame.
> Why is bargaining power changing? In a word, automation.
Automation has existed for 100+ years. So you are actually providing evidence against your own argument here, because, as you noted, the graph did not flatten until, allegedly, 2009 -- and even then I'm with Terr. BTW, what significant event happened in 2009? If AI will revolutionize labor then that's only starting now (maybe as of 2022). And the robotics market has not had any significant break-through event either. It has grown very steadily, but so has, say, the number of smartphones.