I have been recently exploring the impacts of what I call the AI revolution we are currently experiencing surrounding the release of ChatGPT and its rapidly expanding progeny.  Today I want to explore the economic impacts of ChatGPT gobbling up white collar jobs the same way that robotics has devastated blue collar jobs and salaries. I originally discussed this issue in one of my first podcasts on "Income Inequality: We botched it", where I point out that blue collar workers are no longer able to afford the same lifestyle of previous generations due to robotics taking over their jobs and the proceeds being gobbled up by business owners.  We are on track for another crash unless we smarten up and fix the system.  To explore the impacts of this revolution I have a distinguished economist who has recently published in Nature, a paper called Robots, Labor Markets and Universal Basic Income.

Antonio Cabrales has a Ph.D. in Economics from University of California, San Diego, and is a professor at Universidad Carlos III. He has been a professor at University College London, and at Universitat Pompeu Fabra. He is Executive Vice President of the European Economic Association, fellow of the Econometric Society, former President of the Spanish Economic Association and recipient of the King Rei Jaume I prize in Economics 2021. He has worked in a wide range of topics: game theory, the economics of networks, mechanism design, economics of education, experimental and behavioral economics. He is associate editor of the Journal of Economic Theory and has edited and published in several economic journals and Physical Review Letters.

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