The Great Decoupling

As Brynjolfsson and McAfee point out in The Second Machine Age, over the past thirty years, the United States has seen steady growth in worker productivity but stagnant growth in median income and employment. Brynjolfsson and McAfee call this “the great decoupling.” After decades when productivity, wages, and jobs rose in almost lockstep fashion, t

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This paper examines the impending economic transformation from a regime primarily reliant on human labor and capital to one dominated by artificial general intelligence (AGI)-driven productivity. Utilizing an analytic framework based on production functions, it introduces a "power shift" index that delineates the conditions under which AGI may rend... See more