Top economist Steve Hanke told us why he doubts AI will be the job destroyer many expect
By
Theron Mohamed
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Top economist Steve Hanke told us why he thinks AI isn't going to be a massive job destroyer
Steve Hanke said simple economics explains why companies "won't be firing everybody and replacing them with AI."
TL;DRAI
Hanke (Johns Hopkins economist) dismisses AI as a job killer, citing $700B capex and scarce resources (water, power, chips) that make AI costlier than human labor for most work. Tech leaders should expect selective, high-ROI deployments focused on narrow use cases, not transformative automation.
961 words~4 min read
