Nobel Prize-winning economist Robert Shiller cautioned that widespread fear of artificial intelligence eliminating jobs could worsen economic damage on top of any real job losses AI creates.
Writing in The New York Times story on Monday, Shiller argued that narrative-driven anxiety amplifies the threat beyond what technology alone would cause.
He cited a March Quinnipiac poll finding 70% of Americans believe AI will reduce jobs, while a Pew Research survey showed only 16% expect AI to benefit society over the next two decades.
"When millions of people make millions and millions of decisions based upon negative expectations, there is a risk that fear can actually help birth the reality," Shiller wrote.
Tech Leaders Fanning the Flames Shiller singled out Anthropic CEO Dario Amodei in his article, who told Axios last May that AI could eliminate half of all entry-level white-collar jobs and drive unemployment to 20% within five years, up from the current rate of 4.3%.
