Reposted by RJ Sheperd
The tunnel needs to get built and the line needs to be electrified to make the tunnel practical.
RJ Sheperd
@rjsheperd.com
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Sentient human interested in all things Cycling / Transit / Cities / Decentralized Web / Lisp / Clojure / Geospatial. 📍 Portland, OR Check out: #RailSky #WalkNRoll #PDXBikes #BikeBus #Transit #YIMBY #DWeb #Clojure #GIS #maps
![Finding 4: Labor vs. capital shareThe pie will grow, but a larger share might go to capital
Today, of each dollar the economy produces, about 60¢ goes to workers and 40¢ go to capital. If the economy grows, but AI automates more tasks, more of each dollar might go to capital. This can happen even when wages for all workers rise substantially. If capital becomes more useful for more things, it will be in higher demand, which raises its price. In that world, more of the gains from a growing economy flow to owners of capital.
We find that the labor share falls noticeably in the substantial and extreme scenarios, and the capital share rises. Average wages rise—non-knowledge workers are paid much more—but wages for knowledge workers stagnate or decline alongside worsening unemployment.
[Emphasis mine] In the extreme scenario, the gains from a rapidly expanding economy are unevenly distributed. Most knowledge workers face either lower wages or unemployment, and workers overall get a smaller fraction of the larger pie. Total labor income is barely changed by 2030.
In this scenario, the main challenge is not achieving economic growth, but making sure the benefits are broadly shared and the costs aren’t unequally dispersed.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:4ali7wkf2ogz52z5ud7aqsjt/bafkreifuva34phz3sfnrrz2zdmsttf5ognjvhir3ewfddogzlq6fnzonxa)
