Economics & Growth | Monetary Policy & Inflation | US
AI Faces Worse Macro Backdrop Than the 1990s IT Revolution
Dominique Dwor-Frecaut
Summary IT capex shows the internet revolution has been ongoing since the 1990s. Yet the macro data shows no obvious impact on productivity. This could reflect measurement issues and a falling labour income share that has made for sluggish demand growth and inflation. Investors have still benefitted from the IT revolution through high profits and […]