The AI Revolution: A New Paradigm of Economic Order

Vöpel Henning ()
Additional contact information
Vöpel Henning: Center for European Policy, Berlin, Germany

The Economists' Voice, 2024, vol. 21, issue 2, 345-355

Abstract: Artificial intelligence (AI) constitutes a new technological revolution that has far-reaching, somehow paradigmatic implications for the economy and as well as for the society – for good and for evil. Given the specific properties of artificial intelligence this article analyses the economic consequences of AI on productivity and growth, the distribution of income as well as on firms, markets, and competition. It argues that artificial intelligence is creating a new economic order that requires new approaches to economic policy and regulation. Issues of how to maintain competition, protect consumer rights, promote AI literacy and preserve ethical standards are at the center of a holistic AI governance.

Keywords: artificial intelligence; economic order; technological change; economic policy (search for similar items in EconPapers)
JEL-codes: L10 L50 O33 O40 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/ev-2024-0054 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:evoice:v:21:y:2024:i:2:p:345-355:n:1009

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/ev/html

DOI: 10.1515/ev-2024-0054

Access Statistics for this article

The Economists' Voice is currently edited by Michael Cragg, Dwight Jaffee and Joseph Stiglitz

More articles in The Economists' Voice from De Gruyter
Bibliographic data for series maintained by Peter Golla ().