Justin Wolfers: AI, Inflation, & The 2026 Elections
Summary
Economics professor Justin Wolfers discusses the political power of billionaires, arguing that extreme wealth buys influence rather than comfort, as illustrated by Elon Musk’s election spending. He uses the "Robinson Bot" thought experiment to explain how AI ownership and market competition determine whether technological gains benefit workers or concentrate wealth in few hands. Wolfers also addresses the disconnect between positive macroeconomic data and public misery, attributing the latter to policy errors and uncertainty. Finally, he explains inflation through the lens of psychological …
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