People are sick of AI; they’re sick of predictions that AI will take your job, and they’re sick of the supposedly smartest economists around failing to explain what is happening. Perfect timing, then, for a new theory that ties all of the threads together in an elegant explanation: AI isn’t wiping out jobs, but it is cutting wages. No wonder workers are in revolt.
New research from Apollo Global Management shows the technology’s earliest measurable damage isn’t job losses, but smaller paychecks. That finding arrives in the middle of one of the most fractured debates in economics right now — one where even the people building the AI systems can’t agree on what their own data shows.
