As far as A(G)I impact on job market is concerned—assuming a future where a word like job still matters—the main question is not just about ‘jobs’ but ‘jobs remunerated such as to sustain reasonable livelihood’, i.e. wages, and the latter depends less on the (indeed interesting though) friction/efficiency wage subtleties, but really on whether the scarcity value for our labor is completely crushed by AI or not. Chances are it will be indeed. The new scarcity will be resources, not classical human resources. Whether you search long and well, may be of second or third order importance.
As far as A(G)I impact on job market is concerned—assuming a future where a word like job still matters—the main question is not just about ‘jobs’ but ‘jobs remunerated such as to sustain reasonable livelihood’, i.e. wages, and the latter depends less on the (indeed interesting though) friction/efficiency wage subtleties, but really on whether the scarcity value for our labor is completely crushed by AI or not. Chances are it will be indeed. The new scarcity will be resources, not classical human resources. Whether you search long and well, may be of second or third order importance.