AI-vs-Industrial-Revolution wage analogy is overwrought, economist argues
Afinetheorem · x · 2026-10-07
Economist Afinetheorem pushes back on the Industrial Revolution analogy for AI's wage impact: England shifted 15-20pp of labor out of agriculture/local production during the sub-0.5% growth "Engel's Pause" — huge structural change with slow growth, unlike today. In fast-growth structural transitions (East Asian miracles, US 1870-1920), wages did not decline; growth and wages are highly correlated over time. The doom analogy lacks historical support.
Related event: Economists Push Back on the Industrial Revolution Analogy for AI(2 posts)→
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