Tyler Cowen
speaker
1,721 appearances
6 recordings
6 series
first heard Jan 2025
last heard 9 Jun
Tyler Cowen’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 — 1 in all, peaking in Jun 2026 with 1.
Appearances
It's not really a matter of opinion.
The notion that all the money gets sucked somehow into an AI company and no one has any money, it's not in equilibrium.
There's only huge profits at the top if there's people at the bottom buying the product, spending money.
And what in fact happens is to the extent the companies earn money,
They hire labor, they invest the money, they may spend it on consumption.
There's a circular flow in an economy.
Economists call this Say's Law, but the Citrini scenario just simply isn't really possible, which is good news.
If you ask, you know, what's the incidence, it's an economist's word, of strong AI, like who really benefits from
One economic insight is you need to look at longer run factors.
And if there's a new innovation or a new tax, who gains, who loses?
It depends on what are the bottlenecks or what are the scarce factors.
So right now, two of the big bottlenecks would be energy, compute.
Another might be land in San Francisco.
So maybe unjustly, but some returns, high returns will accrue to land in San Francisco, especially after IPOs, and also to the energy sector.
And if we think that's bad for the economy or just somehow immoral or unjust, what we can do is act to ease those bottlenecks.
And in your capacity as private citizens, if you think it's bad that the energy sector and San Francisco homeowners get more money, you can have YIMBY for San Francisco and our government and private sector could do more for solar power and nuclear power, other areas.
And that would mean the gains from AI are distributed more broadly.
Those are things, in my view, we should do, we could do.
I think we're starting to see actually those happen.
This final point I'll make, when it comes to labor markets, what do I really think is going to happen?
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