inequality, and higher productivity growth through automation. In this paper we critically re-assess these predictions by (i … in endogenous growth theory, but modified to allow for demand-side constraints. This is a novel approach, given that … aggregate demand. A second is that the predictions of AI causing massive job losses and faster growth in productivity and GDP …

. Productivity adjustments stabilise employment and the labour share in the long run: technological change allows firms to replenish …