History already tells us the future of AI

BOSTON, Massachusetts – Artificial intelligence (AI) and the threat it poses to good jobs would seem to be an entirely new problem. But we can find useful ideas about how to respond in the work of David Ricardo, a founder of modern economics who observed the British industrial revolution firsthand. The evolution of his thinking, including some points that he missed, holds many helpful lessons for us today.

Private-sector tech leaders promise us a brighter future of less stress at work, fewer boring meetings, more leisure time, and, perhaps, even a universal basic income. But should we believe them? Many people may simply lose what they regard as a good job, forcing them to find work at a lower wage. After all, algorithms are already taking over tasks that currently require people's time and attention.