If AI Does Your Job, Who Gets Paid? | The Professor Is In
Summary
Justin Wolfers discusses the global decline in labor’s share of income, attributing it to technological change and shifting political norms rather than just US-specific policies. He explores the rise of monopsony power in labor markets and evaluates potential solutions, including constructive unionization and broader worker ownership of capital. The episode concludes by framing AI’s impact through the lens of ownership, arguing that who controls technology determines whether it benefits workers or exacerbates inequality.
Topics discussed
Sponsors and Intro
Is declining labor share a global trend?
Technology vs. Neoliberalism as drivers
Superstar firms and market power
Monopsony power in the labor market
Mid-roll Ad Break
Policy prescriptions: Unions and norms
Worker ownership and the AI future
Outro and Final Ads
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