A 19th-century economist has been capturing attention lately. William Stanley Jevons, the British marginal revolutionary, concluded 160 years ago that when technology improves the efficiency of a resource, demand for that resource can increase. Today, many people are worried that artificial intelligence (AI) will wipe out jobs, but employment levels in AI-sensitive industries are reaffirming the Jevons paradox, also known to some as the Jevons employment effect.
Jevons Paradox in the Real World
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