Artificial Intelligence, Globalization, and Strategies for Economic Development

Anton Korinek and Joseph Stiglitz

No inetwp146, Working Papers Series from Institute for New Economic Thinking

Abstract: Progress in artificial intelligence and related forms of automation technologies threatens to reverse the gains that developing countries and emerging markets have experienced from integrating into the world economy over the past half century, aggravating poverty and inequality. The new technologies have the tendency to be labor-saving, resource-saving, and to give rise to winner-takes-all dynamics that advantage developed countries. We analyze the economic forces behind these developments and describe economic policies that would mitigate the adverse effects on developing and emerging economies while leveraging the potential gains from technological advances. We also describe reforms to our global system of economic governance that would share the benefits of AI more widely with developing countries.

Keywords: Artificial Intelligence; inequality; technological development; redistribution. (search for similar items in EconPapers)
JEL-codes: D63 E64 O3 (search for similar items in EconPapers)
Pages: 53 pages
Date: 2021-02-04
New Economics Papers: this item is included in nep-cwa, nep-ltv and nep-tid
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Citations: View citations in EconPapers (27)

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Related works:
Working Paper: Artificial Intelligence, Globalization, and Strategies for Economic Development (2021)
Working Paper: Artificial Intelligence, Globalization, and Strategies for Economic Development (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:thk:wpaper:inetwp146

DOI: 10.36687/inetwp146

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