advantage in the most complex tasks relative to capital, and because the wages of the least skilled workers are sufficiently low … relative to their productivity and the effective cost of capital in low-complexity tasks. Minimum wages and other sources of … higher wages at the bottom make interior automation less likely. Starting with interior automation, a reduction in the cost …

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and … in tasks that it used to perform. This displacement effect tends to reduce the demand for labor and wages. But it is … effects are incomplete. Even when they are strong, automation in-creases output per worker more than wages and reduce the …

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and … in tasks that it used to perform. This displacement effect tends to reduce the demand for labor and wages. But it is … effects are incomplete. Even when they are strong, automation in- creases output per worker more than wages and reduce the …