The Life of Economics after AI
Commodifying human interaction AI replaces scarcity with abundance. Economics is the discipline for management of scarcity. Will AI make economics irrelevant? No, says Alex Imas “we will still have scarcity, but the kind of scarcity that matters will change.” It may be reasonable for an economist to be unable to accept the need for his daily business disappear, so he goes on with a lengthy essay and CES-modelling to find the new kind of scarcity that AI presumably will conway....