Rethinking the economics of AI

Economics needs to be rethought if it is to address the effects of artificial intelligence (AI) on work. In particular, rethinking is needed in the way that economics theorises the value of work. Economics needs to open up to new thinking and become more like a social science as opposed to a technical, abstract and aloof discipline. The prospect of economics accommodating such change remains remote, however, despite its urgency and necessity. This fact only underlines the need to craft different ideas and different visions of the future of work that both challenge and go beyond economics.