Jon Steinsson
@JonSteinsson
Economics Professor at UC Berkeley
622 Following 25.9K Followers
New BPEA paper by @SVNieuwerburgh argues that AI buildout will cost $10.3T over next 8 years. Furthermore, to get a 10% return on this, those investing will need annual revenues of $3.7T by 2032! (Approx 9% of GDP!)
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Amazing how far the pendulum has swung from ca. 2015 when many thought economic growth might have been a 200 year blip that was coming to an end.
(Summers writing about secular stagnation, Robert Gordon's book about the rise and fall of American growth, etc.)
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