Nobel Economist Robert Shiller Warns AI Job Loss Fears Could Become Self-Fulfilling Prophecy

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Nobel Prize-winning economist Robert Shiller warned 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, Shiller argued that narrative-driven anxiety amplifies the threat beyond what technology alone would cause, citing a March Quinnipiac poll finding 70% of Americans believe AI will reduce jobs and a Pew Research survey showing only 16% expect AI to benefit society over the next two decades. He singled out Anthropic CEO Dario Amodei, 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%. Shiller cautioned that tech leaders promoting worst-case scenarios risk tipping consumer sentiment into a contraction that hurts their own bottom line, noting that the resulting media attention may help sell AI products but could be far harder to do so in a recession.

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Artificial Intelligence · 1 stocks
NVIDIA Corporation
NVDA
▼ NegativeDemandrelevance

Article warns AI job loss fears could cause recession, reducing demand for NVIDIA's AI chips.

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Off-coverage companies 1

AnthropicPrivate▼ Negative
Demandrelevance

CEO Dario Amodei's dire job-loss predictions could hurt AI product demand if recession materializes.

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