The key shift is that AI isn’t just productivity — it’s productivity without labor participation. That forces policy into a political role, not a cyclical one.
Deflationary technology and inflationary policy aren’t opposites anymore. They may become structurally intertwined.
Really thoughtful framing.
The key shift is that AI isn’t just productivity — it’s productivity without labor participation. That forces policy into a political role, not a cyclical one.
Deflationary technology and inflationary policy aren’t opposites anymore. They may become structurally intertwined.
That’s the regime change.