Like if the unemployment rate went from 4% to 6% or 8%, that would be a massive development in our economic system and that would test the limits of our policy tools. And There is a non trivial chance that it could be a multiple of that [employment shock]. In terms of what happens now, look through our experience, at least in the last few hundred years, when a new technology eliminates certain tasks or even certain jobs, the … (1:01:29–1:01:42)
CLAIM
Asserts the possibility of a significantly larger employment shock due to AI.
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