Economist Steve Hanke says AI won't destroy most jobs because it costs more than hiring humans

Top economist Steve Hanke told us why he thinks AI isn't going to be a massive job destroyer

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.