Joseph Stiglitz says buckle up before the great AI ‘reallocation’ era arrives

Joseph Stiglitz wants you to hold two ideas in your head at the same time. The first: an AI bubble is building, it will likely burst, it will hurt the macroeconomy, and workers will bear the cost of a displacement we have no institutions to manage. The second: survive that transition, and the technology that threatens your job today may end up becoming your most useful co-worker.

“Our economy is right now being supported by AI investment—the AI bubble,” Stiglitz told Fortune in a recent interview.