Acemoglu and Restrepo examine the effects of automation in economies where labor market distortions cause some workers to earn rents—wages above their opportunity cost or outside option. The central …
PublishedJournal of Monetary EconomicsPublished Jan 2026
Leading AI firms such as OpenAI and Anthropic publicly claim dual mandates of profit and social welfare, raising the question of whether—and how—a social mandate should change their pricing and …