{"id":243382,"date":"2026-07-15T06:00:00","date_gmt":"2026-07-15T10:00:00","guid":{"rendered":"https:\/\/testing.news-you-need.com\/index.php\/2026\/07\/15\/what-economists-are-missing-about-ai\/"},"modified":"2026-07-15T06:40:12","modified_gmt":"2026-07-15T10:40:12","slug":"what-economists-are-missing-about-ai","status":"publish","type":"post","link":"https:\/\/testing.news-you-need.com\/index.php\/2026\/07\/15\/what-economists-are-missing-about-ai\/","title":{"rendered":"What Economists Are Missing About AI"},"content":{"rendered":"<p><a href=\"https:\/\/www.promarket.org\/2026\/07\/15\/what-economists-are-missing-about-ai\/\">What Economists Are Missing About AI<\/a><\/p>\n<p><a href=\"https:\/\/www.promarket.org\/2026\/07\/15\/what-economists-are-missing-about-ai\/\">https:\/\/www.promarket.org\/2026\/07\/15\/what-economists-are-missing-about-ai\/<\/a><\/p>\n<p>Publish Date: <a href=\"publish_date]\">2026-07-15 06:00:00<\/a><\/p>\n<p>Source Domain: <a href=\"www.promarket.org\">www.promarket.org<\/a><\/p>\n<ul>\n<li>The wide dispersion in economists&#8217; forecasts for the impact of artificial intelligence (AI) on the economy stems from two key gaps: estimates are fragmented without a unifying framework and focus only on AI&#8217;s current capabilities rather than its future spread and automation limits.<\/li>\n<li>Authors Benjamin Verschuere and Angus Cameron present a unified framework that quantifies AI&#8217;s long-term effects, predicting $2 trillion in U.S. output gains, the loss of approximately 20 million jobs, and falling prices.<\/li>\n<li>Their model considers how much of a job can be automated (workflow completeness) and measures how fast AI spreads (diffusion), combining these factors to aggregate impacts across tasks, jobs, industries, and macroeconomic variables.<\/li>\n<li>AI&#8217;s current productivity and wage impacts have been observed in sectors heavily exposed to AI, showing a productivity gain of 70% due to AI exposure, suppressed job growth, and slower wage growth correlating with the extent of automatable tasks.<\/li>\n<li>The authors project AI will add $1.5 trillion to U.S. output within five years and $2 trillion over the long term, driving a significant reduction in the overall price level of around seven to eight percent while maintaining fiscal capacity to support displaced workers.<\/li>\n<li>The key policy challenge, according to the authors, is ensuring that the productivity gains from AI benefit consumers rather than remaining concentrated with specific producers and employers, requiring competitive market conditions and lowered barriers for labor mobility.<\/li>\n<\/ul>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What Economists Are Missing About AI https:\/\/www.promarket.org\/2026\/07\/15\/what-economists-are-missing-about-ai\/ Publish Date: 2026-07-15 06:00:00 Source Domain: www.promarket.org The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":243383,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"http:\/\/www.promarket.org\/wp-content\/uploads\/2026\/07\/Verschuere-and-Cameron.jpg","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[20],"class_list":["post-243382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","tag-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/243382"}],"collection":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=243382"}],"version-history":[{"count":1,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/243382\/revisions"}],"predecessor-version":[{"id":243384,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/243382\/revisions\/243384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/243383"}],"wp:attachment":[{"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=243382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=243382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testing.news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=243382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}