Michael Roberts – AI: the Biggest Economic Bet in US History
4 Articles
4 Articles
U.S. growth is accelerating under the influence of investment in AI. A logic of risky dependency is in place, while the financial, social and ecological cost of this technology makes its flight untenable.
By Michael Roberts The U.S. economy continues to grow faster than the other G7 economies, but the engine of this growth is the huge investment in AI models, data centers, and all AI-related chips and technology. The U.S.-composed MIP [Health Measured Index].
The US economy is growing faster than other G7 economies. The main driver of this is the massive investment in artificial intelligence models, data centers, and related chips. The US composite PMI rose from 56 in August to 58.4.
Michael Roberts – AI: the biggest economic bet in US history
The warning signs of the coming crash keep multiplying. An upward trend in interest rates amid falling bond prices could be the crisis-triggering factor. Michael Roberts is an Economist in the City of London and a prolific blogger. Cross-posted from Michael Roberts’ blog Photo: Wikimedia Commons The US economy continues to expand faster than other G7 economies, but the driver is the humungous investment in AI models, data centres and all the AI-…
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