Anthropic Chief Economist McRoy: AI could boost labor productivity by 1.8%, but labor income share might plummet by 15%, and suggests a "token tax."
Peter McCrory, Chief Economist at Anthropic, stated in a conversation at Harvard Kennedy School that based on Anthropic's underlying usage data, AI adoption is expected to boost labor productivity growth by 1.8 percentage points, potentially returning the U.S. macroeconomy to an era of high growth. He predicted that AI is highly likely to exacerbate inequality between capital and labor, and in extreme cases, the labor income share could fall by about 15 percentage points. McCrory suggested that to address the reshaping of wealth distribution and excessive automation, policymakers should consider tax reforms, including taxing consumption and introducing a "token tax" to curb negative externalities, analogous to carbon or tobacco taxes.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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