Jeffrey Sachs
speaker
2,235 appearances
19 recordings
10 series
first heard Oct 2024
last heard 4d ago
Jeffrey Sachs’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 14 in all, peaking in Sep 2026 with 4.
Appearances
Now, just the most recent data puts it at about 50%.
In other words, it's gone from about 0.65 to 0.5.
is a big deal.
What's happening is more and more of the national income that's produced is going to profits, is going to corporate earnings, is going to rents, to ownership of patents and so forth.
And what workers get
is absolutely falling as a share, but for a great part of our society, what workers get is falling in absolute terms.
And AI will speed that up.
Artificial intelligence substitutes these algorithms for human labor and whatever anyone says
This is a process that's been going on for decades and wages are stagnant or falling for those segments of the labor force where that substitution can occur.
Let's say 30 years ago, it was people on the assembly line.
Those jobs didn't go to China, those jobs went to the robots.
Now the jobs are going to Claude and to others.
And this is happening actually with a new swath.
We know it's with the college graduates this year.
They're not finding jobs when they come out.
And this is showing up as this shift of national income.
The second thing that's happening, I think,
most likely, this is always a judgment that only can be made ex post, is that we really have a bubble.
We really have the Elon Musk thrill that we got the gazillion dollar companies and the trillion dollar man and all the rest.
I see no way, personally, that the valuations that are being put on big tech and on the IPOs can in any way be justified because one of the
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