Wow. That guy just summed up the entire state of global affairs in a few minutes. I love listening to thoughtful analysis. Thanks for these interviews.
LMAO.... “The gap between rich and poor is widening”?!?! NO SHIT SHERLOCK?!?! and of course "the invasion" of ukraine by "rushah"?!?! Fracking hell... with "economists" and presstitutes like this, who needs useful idiots?!?!?! Well like Mr Einstein said "The definition of (criminal) insanity is doing the same thing over and over again and then expecting different results!"
Yeah, very interesting. He told me a lot of things I didn't know. I didn't know that wealth inequality was such a widespread global issue, but I guess I really shouldn't be surprised. I'll have to check out his book. Please interview more people like this guy. I need more education.
Glad he brought up the fraying white collar... has been a phenomenon for decades now and no one talks about it... White collar tech sweat shops, programmers, techies, DB analysts.
You mean you did not see the displacement of workers coming with the advancements and Technologies? And yes we would prefer a job but if not we'll take a check every month I think they call it Universal basic income.
He mentions the dignity of work. Most humans will not be happy just receiving free money each month, it's a psychological trait of humans to want to feel important/useful. I agree with a UBI, but for many it will not be as fulfilling as working for a living.
Universal basic income just makes sense. With so many out of work who is going to pay for that Uber ride the economy would come to a standstill no one would have purchasing power zero.
@@jonathondreyer8644 however a UBI does free one up to do more with their hobbies. More time to get more education. Plus more time to appreciate each other,learn about each others cultures.
Apart from a UBI, one obvious way to mitigate technology taking the lion share of the jobs due to its increased capacity for production would be to half the hours of work for the remaining human jobs which would double the number of humans that can be employed.
@@l.w.4701 I agree and personally would be fine receiving a UBI instead of slowly killing myself in the rat race lol. More time for hobbies, exercise, education, community work and public service. Not to mention tackling the enormous health epidemic we have in the US. Many people just don't have to time to exercise and improve their health because they're working multiple low paying jobs to keep a roof over their head. Low paying jobs do not leave much room for buying/preparing healthy food as well when you live in a food desert. But I know many would feel the need for the "dignity of work" as Nouriel Roubini mentioned in the video. I agree with most of the replies that a UBI may be the only thing that prevents massive civil and political unrest from AI making many jobs obsolete.
Professor Nouriel Roubini is stating critical information about America's and the world's economies -- most of which is not normally heard on US corporate television. Walter Issacson asked great questions, but he made a mistake concerning "aggregate job losses" saying that unemployment remains low -- implying that very few jobs have been affected so far. Wrong. Actually, overall, hundreds of thousands of jobs have been lost during 2022. Particularly in industries like High Tech companies, Auto companies, Banks, Financial services, Department Stores, Restaurants -- just to name a few -- have either closed or have dismissed thousands and thousands of employees. Folks, the financial 'hurricane' is coming -- and soon. Professor Roubini numbers is absolutely correct. Though the fantasy-driven media contests his analysis. The raw numbers don't lie!! Hence, Wall Street is terrified. Because the US and global economies are in a very dangerous and precarious condition. Numerous nations in Europe, Africa, South America, and South Asia are experiencing tremendous financial "stress". Ladies and Gentlemen, it is not a matter of "if", but a matter of "when" this 'hurricane' strikes. My guess (and Professor Roubini's) is very soon. Much sooner than most Americans realize. And psychologically, the US is not ready. Not even close. And it is this deepening reality that concerns me greatly.
What advantage is there to productivity growth if it doesn’t reduce work? Out goal should be to work as little as possible, so we can spend our time pursuing meaning and creativity. And why is climate change an environmental problem, when the climate changing is a symptom of the industrial economy growing. Emissions began with the industrial revolution and have increased with GDP. They cannot be decoupled. The economy is the problem, but if we were to be more specific, economics is the problem. Specifically, neo-classical economy and endogenous growth theory. Yet because well being is dependent on the economy, whenever capitalism fails, we get more capitalism. It’s a trap, and we’re in it now.
I see his reasoning. I think his is choosing worst cases. Hoping his book offers more optimism. We humans can be marvelous to each other when we choose to be. We just have to make the right choices and avoid bottoming out on our fears which will indeed lead to more fear.
The people put out of work got other jobs because of “increased efficiency”? Maybe the expansion of the service industry had something to do with it. Since “increased efficiency” tends to result in a reduction of the workforce, I begin to wonder if these economists are perpetrating a myth. .
Politicians work for the oligarchy, who want an empire based on extractive financial capitalism instead of productive industrial capitalism. This is what the new cold war is all about.
Fusion is a fantasy that has been "20-30" years away for the last four decades. If this his path to a stable future, I'm not sure i can trust his opinion on anything else.
AI might take over some of the commercialized aspects of art and communications - finding the right marketing angle by sifting through data. Maybe pumping out some generic style paintings that you find in Winners or similar, but I think AI will always be reflecting what humans provide it. I can see programs like DALL-E or IMB Watson being a great tool for artists, but - at this point in time - I can't see the artistic vision and "soul" (if you will) being replaced by AI...unless AI does eventually become sensate?
I'm an artist and I played around with the AI programs. Got bored with it for the reasons you state - the challenge in AI is think of disparate concepts and select effective word combinations. It was about thinking, not feeling (for me, anyway) . It had no kinaesthetic throughput. Part of the beauty of art by humans is its imperfections and the expression of the soul, as you say. I'm sure people who just want a picture on their wall will love it, but I think over time it will lose its novelty to some degree. Videos were supposed to replace the cinema - everyone rushed back to the big screen. CDs killed the vinyl record, only to have it resurrected decades on. Some things do disappear, like horses have not come back to replace cars again, ( but you never know if the cost of fuel keeps rising!). Some things do disappear forever, I'm not sure human created art will be one of those things over the long term. I'm only basing this on a sense, I have no evidence to back it, so I may be talking rubbish, but as an artist, I found the programs not satisfying for an artistic feeling.
@@donnaryan71 Yay to all that. And photography was supposed to replace painting, and maybe it did for realistic portraits, but in the end, photography freed artists from the "tyranny" of realism :) and artistic expression exploded into all kinds of amazing directions. So, maybe AI generated stuff will do that for artists too? I can see surrealists doing a LOT of quick idea generation with DALL-E and getting ideas for compositions. Although my first teachable is art, I teach secondary English, and my Grade 11 students are doing AI inquiry projects right now. A few are looking at AI and creativity - some very, very interesting applications with music and film-making and all manner of creative idea generation. Back in my Media Arts degree 1000 years ago - there wasn't even digital graphics or photography! We had to write our own code to apply digital effects to video stills. It was kind of cool, sure, but ultimately, I thought, "meh...get me back in the dark room please." Art-making comes down to tactility for me, I guess, and I just didn't - and likely won't ever - enjoy having a screen between me and what I'm making. Gotta get your hands dirty! Thanks for sharing!
@@donnaryan71 I am also an artist and believe humans will always create, if that dies in us we will cease to be human and may as well be a monkey, not even an ape! I'm suspicious totalitarian governments look at this with glee tho. I also thought of the film Her, after a while the AI got bored with humans and started doing their own thing! I think its novelty right now, but there are people out there who seem to delight in replacing artists, as if this is a problem for the world. Maybe we should replace politicians with AI? Get things done for the public?
Nobody could have predicted AI would replace most jobs. AI is still in its infancy. Eventually, it could and likely will replace cognitive careers (white collar) like lawyers, economists, doctors etc. For now it's replacing lower skilled jobs (factory workers, taxi/truck drivers etc). Once it can do those jobs reliably and safer than humans, millions will be out of work. I don't think he was short sighted at all, he maybe underestimated how fast AI would advance.
loose money is only an inflationary issue if the funds are malinvested into unproductive policies like stock buybacks and financial leverage which only rewards folks who are already wealthy to start with. even spending the funds on infrastructure can be malinvested as china did with high speed rail with no business case and ghost city housing. that was the genius of the vision of projects like the belt and road initiative and the green new deal .. investments in areas which actually improve how things are done, whether it is more efficient trade networks, or cheaper low carbon energy. but vision doesn't mean much if it is not backed up on the ground as the SBF crypto exchange fiasco has aptly demonstrated. as someone with an engineering education, i can only shake my head when i hear an economist espousing faith in technology to solve social issues. we have had hundreds of years to learn from engineering disasters to regulate building codes and engineering designs. until software engineering is regulated to the same extent (doesn't have to be by government, but who else could step in ?), i can't express the same faith in technology.
why does the media keep giving this guy airtime. even a broken clock is tight twice. hes always a doomsday guy and if you followed him you would have been wrong way more than being right.
China’s past and present conflicts, illegal wars, occupations, coups and proxy wars in Libya, Afghanistan, Iraq, Syria, Yemen etc, are of concern to us all.
Economists are more damaging than helpful. AI isn't going to improve on that, but it would be nice if you become irrelevant. Maybe I should work in AI to accelerate that process.
The human jobs of the future should be to learn and create not to make. Robots will do the making. Robots should be treated as humans are today and be paid a salary on which they will pay taxes. Those taxes will be used to fund the humans left behind from making to continue learning and creating.
Over rated. Firm grasp of the obvious, but lacking any nuance of creative thought. Definitely can be replaced with a "pedantobot". Why people would buy this guy's book is beyond me. Probably rips off work of his students, but loses its vitality in the translation. Obviously has no real understanding of the technology he references. For example, robotic cars only work on routes that are deemed worthy of the expense of rebuilding to address their limitations. If cost is no object, limitations are less, of course. But human slavery is probably cheaper than robots.
Guys believes inequality are internacional crises his discern mistake shows up honest Picture politics reality. Guys book are absurd inconclusiva alarm and corrosive pedantic.
I love the artwork of Darth Vader's Imperial Fighter in the background. It is befitting of Roubini's message and the ‘New World Order’ surely to come as a revolutionary shuffling of politicians in the West begins…tho it is sad and depressing the broader media is so Pollyanna about the world and falsely optimistic about economy. We should all hope this ridiculous ‘Age of Liberalism & Ignorance’ is finally suffering on her death bed to soon be replaced by an Era of Realism & Rationalism based on sound economic policies while doing away with the many antiquated ideologies now sabotaging Western Civilization every day with obscene debt, central planning, big government spending & Stalinist Ideology. Politicians in Brussels and in Washington are beyond incompetent and indeed treasonous! Let us all hope the US Supreme Court and an alliance of American Politicians in Washington may stop the Stalinists with a coup as necessary, so we may have freedom. Tyranny can ensue very quickly as economies fail. I pray Washington Conservatives are ready to repress Liberalism ain’t Washington as opposed to quality of life in the USA.
![[Live สด] การออกรางวัลสลากกินแบ่งรัฐบาล งวดวันที่ 16 พฤศจิกายน 2567](http://i.ytimg.com/vi/wPd7VFfWHIA/mqdefault.jpg)
![F.HERO Ft. JSPKK x ลำไย ไหทองคำ x M-PEE - ไม่สนิทบิดหมด (Thai Riders Anthem) [Official MV]](http://i.ytimg.com/vi/kPJZ0UihBfk/mqdefault.jpg)
Wow. That guy just summed up the entire state of global affairs in a few minutes. I love listening to thoughtful analysis. Thanks for these interviews.
He’s brilliant
Roubini is a sage.
I was thinking same thing, as far as listening to thoughtful analysis 😉😅
LMAO.... “The gap between rich and poor is widening”?!?! NO SHIT SHERLOCK?!?! and of course "the invasion" of ukraine by "rushah"?!?!
Fracking hell... with "economists" and presstitutes like this, who needs useful idiots?!?!?!
Well like Mr Einstein said "The definition of (criminal) insanity is doing the same thing over and over again and then expecting different results!"
Walter Isaacson asked great follow up questions here, good job!!
The desire for utopia ends and the age of dystopia begins
A brilliant economist. Thank you.
Yeah, very interesting. He told me a lot of things I didn't know. I didn't know that wealth inequality was such a widespread global issue, but I guess I really shouldn't be surprised. I'll have to check out his book. Please interview more people like this guy. I need more education.
Glad he brought up the fraying white collar... has been a phenomenon for decades now and no one talks about it... White collar tech sweat shops, programmers, techies, DB analysts.
Brilliant man!! I am going to get his book along with so many books that I find on this great program.
You mean you did not see the displacement of workers coming with the advancements and Technologies? And yes we would prefer a job but if not we'll take a check every month I think they call it Universal basic income.
He mentions the dignity of work. Most humans will not be happy just receiving free money each month, it's a psychological trait of humans to want to feel important/useful. I agree with a UBI, but for many it will not be as fulfilling as working for a living.
Universal basic income just makes sense. With so many out of work who is going to pay for that Uber ride the economy would come to a standstill no one would have purchasing power zero.
@@jonathondreyer8644 however a UBI does free one up to do more with their hobbies. More time to get more education. Plus more time to appreciate each other,learn about each others cultures.
Apart from a UBI, one obvious way to mitigate technology taking the lion share of the jobs due to its increased capacity for production would be to half the hours of work for the remaining human jobs which would double the number of humans that can be employed.
@@l.w.4701 I agree and personally would be fine receiving a UBI instead of slowly killing myself in the rat race lol. More time for hobbies, exercise, education, community work and public service. Not to mention tackling the enormous health epidemic we have in the US. Many people just don't have to time to exercise and improve their health because they're working multiple low paying jobs to keep a roof over their head. Low paying jobs do not leave much room for buying/preparing healthy food as well when you live in a food desert. But I know many would feel the need for the "dignity of work" as Nouriel Roubini mentioned in the video. I agree with most of the replies that a UBI may be the only thing that prevents massive civil and political unrest from AI making many jobs obsolete.
Professor Nouriel Roubini is stating critical information about America's and the world's economies -- most of which is not normally heard on US corporate television. Walter Issacson asked great questions, but he made a mistake concerning "aggregate job losses" saying that unemployment remains low -- implying that very few jobs have been affected so far. Wrong. Actually, overall, hundreds of thousands of jobs have been lost during 2022. Particularly in industries like High Tech companies, Auto companies, Banks, Financial services, Department Stores, Restaurants -- just to name a few -- have either closed or have dismissed thousands and thousands of employees.
Folks, the financial 'hurricane' is coming -- and soon. Professor Roubini numbers is absolutely correct. Though the fantasy-driven media contests his analysis. The raw numbers don't lie!!
Hence, Wall Street is terrified. Because the US and global economies are in a very dangerous and precarious condition.
Numerous nations in Europe, Africa, South America, and South Asia are experiencing tremendous financial "stress".
Ladies and Gentlemen, it is not a matter of "if", but a matter of "when" this 'hurricane' strikes. My guess (and Professor Roubini's) is very soon. Much sooner than most Americans realize.
And psychologically, the US is not ready. Not even close. And it is this deepening reality that concerns me greatly.
What advantage is there to productivity growth if it doesn’t reduce work? Out goal should be to work as little as possible, so we can spend our time pursuing meaning and creativity. And why is climate change an environmental problem, when the climate changing is a symptom of the industrial economy growing. Emissions began with the industrial revolution and have increased with GDP. They cannot be decoupled. The economy is the problem, but if we were to be more specific, economics is the problem. Specifically, neo-classical economy and endogenous growth theory. Yet because well being is dependent on the economy, whenever capitalism fails, we get more capitalism. It’s a trap, and we’re in it now.
Nope.
@@gaywizard2000 what an absolutely worthless comment. If you don't have an informed counter argument, you're just making noise.
@@theobserver9131 I have zero patience or respect for climate change denialism. Zero!
@@gaywizard2000 Are you a moron? When did OP deny climate change? It's COMPLETELY not what he's talking about.
@@gaywizard2000 there you go! I happen to feel the same way.
Education = Self Defence
I see his reasoning. I think his is choosing worst cases. Hoping his book offers more optimism. We humans can be marvelous to each other when we choose to be. We just have to make the right choices and avoid bottoming out on our fears which will indeed lead to more fear.
Excellent interview
Anti-trust policies that breaks up these monopolies!
The people put out of work got other jobs because of “increased efficiency”? Maybe the expansion of the service industry had something to do with it.
Since “increased efficiency” tends to result in a reduction of the workforce, I begin to wonder if these economists are perpetrating a myth.
.
How did stock BuyBacks effect inflation?
Good analysis
Am I the only one who sees the TIE fighter painting in the background?
china did what ? why you west so angre?
Doctors will be replaced by AI.....they make so many errors it will be a blessing for us all.
@Patrick - I think doctors and AI will need to work in tandem. One without the other is hard for me to imagine.
😂😂 when a non tech person writes about impact of the technology he doesn’t understand
Politicians work for the oligarchy, who want an empire based on extractive financial capitalism instead of productive industrial capitalism. This is what the new cold war is all about.
Is that a TIE fighter in the frame? 😅
Yes it's a tie fighter frame. Lol.
It’s so unnecessary, so wasteful. Stop it, Joe Bide. No one wants war except you.
Fusion is a fantasy that has been "20-30" years away for the last four decades. If this his path to a stable future, I'm not sure i can trust his opinion on anything else.
AI might take over some of the commercialized aspects of art and communications - finding the right marketing angle by sifting through data. Maybe pumping out some generic style paintings that you find in Winners or similar, but I think AI will always be reflecting what humans provide it. I can see programs like DALL-E or IMB Watson being a great tool for artists, but - at this point in time - I can't see the artistic vision and "soul" (if you will) being replaced by AI...unless AI does eventually become sensate?
Been watching the AI generated videos too long eh? This famous song, but every image is AI generated. Wow, neat!
I'm an artist and I played around with the AI programs. Got bored with it for the reasons you state - the challenge in AI is think of disparate concepts and select effective word combinations. It was about thinking, not feeling (for me, anyway) . It had no kinaesthetic throughput. Part of the beauty of art by humans is its imperfections and the expression of the soul, as you say. I'm sure people who just want a picture on their wall will love it, but I think over time it will lose its novelty to some degree. Videos were supposed to replace the cinema - everyone rushed back to the big screen. CDs killed the vinyl record, only to have it resurrected decades on. Some things do disappear, like horses have not come back to replace cars again, ( but you never know if the cost of fuel keeps rising!). Some things do disappear forever, I'm not sure human created art will be one of those things over the long term. I'm only basing this on a sense, I have no evidence to back it, so I may be talking rubbish, but as an artist, I found the programs not satisfying for an artistic feeling.
@@donnaryan71 Yay to all that. And photography was supposed to replace painting, and maybe it did for realistic portraits, but in the end, photography freed artists from the "tyranny" of realism :) and artistic expression exploded into all kinds of amazing directions. So, maybe AI generated stuff will do that for artists too? I can see surrealists doing a LOT of quick idea generation with DALL-E and getting ideas for compositions. Although my first teachable is art, I teach secondary English, and my Grade 11 students are doing AI inquiry projects right now. A few are looking at AI and creativity - some very, very interesting applications with music and film-making and all manner of creative idea generation. Back in my Media Arts degree 1000 years ago - there wasn't even digital graphics or photography! We had to write our own code to apply digital effects to video stills. It was kind of cool, sure, but ultimately, I thought, "meh...get me back in the dark room please." Art-making comes down to tactility for me, I guess, and I just didn't - and likely won't ever - enjoy having a screen between me and what I'm making. Gotta get your hands dirty! Thanks for sharing!
@@donnaryan71 I am also an artist and believe humans will always create, if that dies in us we will cease to be human and may as well be a monkey, not even an ape! I'm suspicious totalitarian governments look at this with glee tho. I also thought of the film Her, after a while the AI got bored with humans and started doing their own thing! I think its novelty right now, but there are people out there who seem to delight in replacing artists, as if this is a problem for the world. Maybe we should replace politicians with AI? Get things done for the public?
He had to wait for AI to show up to determine that technology will be displacing employees? Short sighted.
Nobody could have predicted AI would replace most jobs. AI is still in its infancy. Eventually, it could and likely will replace cognitive careers (white collar) like lawyers, economists, doctors etc. For now it's replacing lower skilled jobs (factory workers, taxi/truck drivers etc). Once it can do those jobs reliably and safer than humans, millions will be out of work. I don't think he was short sighted at all, he maybe underestimated how fast AI would advance.
Dr 'Doom' Roubini has been at it for a decade or 2 about impending financial ...doom.
loose money is only an inflationary issue if the funds are malinvested into unproductive policies like stock buybacks and financial leverage which only rewards folks who are already wealthy to start with. even spending the funds on infrastructure can be malinvested as china did with high speed rail with no business case and ghost city housing.
that was the genius of the vision of projects like the belt and road initiative and the green new deal .. investments in areas which actually improve how things are done, whether it is more efficient trade networks, or cheaper low carbon energy. but vision doesn't mean much if it is not backed up on the ground as the SBF crypto exchange fiasco has aptly demonstrated.
as someone with an engineering education, i can only shake my head when i hear an economist espousing faith in technology to solve social issues. we have had hundreds of years to learn from engineering disasters to regulate building codes and engineering designs. until software engineering is regulated to the same extent (doesn't have to be by government, but who else could step in ?), i can't express the same faith in technology.
Who fact checks AI so it doesn’t lead us astray?
why does the media keep giving this guy airtime. even a broken clock is tight twice. hes always a doomsday guy and if you followed him you would have been wrong way more than being right.
China’s past and present conflicts, illegal wars, occupations, coups and proxy wars in Libya, Afghanistan, Iraq, Syria, Yemen etc, are of concern to us all.
Economists are more damaging than helpful. AI isn't going to improve on that, but it would be nice if you become irrelevant. Maybe I should work in AI to accelerate that process.
The human jobs of the future should be to learn and create not to make. Robots will do the making. Robots should be treated as humans are today and be paid a salary on which they will pay taxes. Those taxes will be used to fund the humans left behind from making to continue learning and creating.
Incisive, yet insipid as well... *[ A.I. throwing down human imagination and creating ] - His Game of JENGA is a bit too "perfect". 🌐🦖☄️
Amanpour looks weird.... as usual she comes over as being false.
Is he a Jew?
Over rated. Firm grasp of the obvious, but lacking any nuance of creative thought. Definitely can be replaced with a "pedantobot". Why people would buy this guy's book is beyond me. Probably rips off work of his students, but loses its vitality in the translation. Obviously has no real understanding of the technology he references. For example, robotic cars only work on routes that are deemed worthy of the expense of rebuilding to address their limitations. If cost is no object, limitations are less, of course. But human slavery is probably cheaper than robots.
Guys believes inequality are internacional crises his discern mistake shows up honest Picture politics reality. Guys book are absurd inconclusiva alarm and corrosive pedantic.
What!
I love the artwork of Darth Vader's Imperial Fighter in the background. It is befitting of Roubini's message and the ‘New World Order’ surely to come as a revolutionary shuffling of politicians in the West begins…tho it is sad and depressing the broader media is so Pollyanna about the world and falsely optimistic about economy. We should all hope this ridiculous ‘Age of Liberalism & Ignorance’ is finally suffering on her death bed to soon be replaced by an Era of Realism & Rationalism based on sound economic policies while doing away with the many antiquated ideologies now sabotaging Western Civilization every day with obscene debt, central planning, big government spending & Stalinist Ideology. Politicians in Brussels and in Washington are beyond incompetent and indeed treasonous! Let us all hope the US Supreme Court and an alliance of American Politicians in Washington may stop the Stalinists with a coup as necessary, so we may have freedom. Tyranny can ensue very quickly as economies fail. I pray Washington Conservatives are ready to repress Liberalism ain’t Washington as opposed to quality of life in the USA.