Why AI Won’t Cause Unemployment

Now think about what happens over time. The prices of regulated, non-technological products rise; the prices of less regulated, technologically-powered products fall. Which eats the economy? The regulated sectors continuously grow as a percentage of GDP; the less regulated sectors shrink. At the limit, 99% of the economy will be the regulated, non-technological sectors, which is precisely where we are headed.
Therefore AI cannot cause overall unemployment to rise, even if the Luddite arguments are right this time. AI is simply already illegal across most of the economy, soon to be virtually all of the economy.

Marc Andreessen Substack 04.03.23