{"id":729861,"date":"2026-06-27T20:43:13","date_gmt":"2026-06-27T20:43:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/729861\/"},"modified":"2026-06-27T20:43:13","modified_gmt":"2026-06-27T20:43:13","slug":"nobel-prize-winning-economist-says-ai-jobs-fears-will-produce-negative-outcomes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/729861\/","title":{"rendered":"Nobel Prize-winning economist says AI jobs fears will produce negative outcomes"},"content":{"rendered":"\n

FOX Business host Charles Payne discusses the market shift driven by artificial intelligence on Making Money.<\/p>\n

A Nobel Prize-winning economist has warned that persistent predictions of artificial intelligence destroying the job market could become a self-fulfilling prophecy.<\/p>\n

Robert Shiller, who shared the 2013 Nobel Prize in economics for his work on asset prices, wrote a guest essay on Monday in The New York Times<\/a> that argued the panic over AI is not a new sociological phenomenon.<\/p>\n

In fact, he wrote, humans have been worried that new technology could replace them since the days of Aristotle, who envisioned a self-powered loom and a lyre that could play music without someone plucking the strings.<\/p>\n

And in the 19th century, a group of English textile workers \u2014 who later became known as Luddites \u2014 intentionally destroyed machines they believed would put them out of a job.<\/p>\n

ROBERT SHILLER: PEOPLE AREN’T AS IMPRESSED BY HOMES ANYMORE<\/a><\/p>\n

\"Robert <\/p>\n

Professor Robert J. Shiller wins Nobel Prize in economic sciences during an awards ceremony on Dec. 10, 2013, in Stockholm, Sweden. (Pascal Le Segretain \/ Getty Images)<\/p>\n

Shiller fears that similar anxieties inherent within us are rearing their head once again.<\/p>\n

He cited a Quinnipiac poll<\/a> from March, which found that 70% of people believe AI will reduce the number of jobs. Additionally, only 16% of Americans believe AI will have a positive impact on society over the next two decades, according to a Pew Research survey<\/a> conducted in June.<\/p>\n

“Like many others, I believe AI could lower employment. But unlike most, I don\u2019t necessarily blame the technology itself. Instead, I worry about the potency of the fear it is generating,” Shiller wrote.<\/p>\n

“Our brains are wired to respond to stories. Narratives floating in a population can affect individuals\u2019 economic decisions,” he continued. “When millions of people make millions and millions of decisions based upon negative expectations, there is a risk that fear can actually help birth the reality.”<\/p>\n

THE AI REVOLUTION THREATENS OFFICE JOBS, BUT REVIVES DEMAND FOR SKILLED TRADES<\/a><\/p>\n

\"Robert <\/p>\n

Robert Shiller attends the 2019 Forbes 30 Under 30 Summit at Detroit Masonic Temple on Oct. 29, 2019, in Detroit, Michigan. (Taylor Hill \/ Getty Images)<\/p>\n

Much of the negative media coverage around AI centers on speculation over how much it will impact jobs and the economy.<\/p>\n

In late May, Anthropic CEO Dario Amodei told Axios<\/a> that in the next one to five years, AI could eliminate half of all entry-level white-collar jobs and spike unemployment to as much as 20%. He later expressed uncertainty over the exact timeline.<\/p>\n

The current unemployment rate is 4.3%, up from 4% at the beginning of President Donald Trump’s term in January 2025.<\/p>\n

AI IS TOP REASON FOR US JOB CUTS FOR THIRD STRAIGHT MONTH<\/a><\/p>\n

“While the job market has slowed for a host of reasons, there are reports that fear of an AI apocalypse is worsening the freeze and contributing to record lows in consumer sentiment,” Shiller argued.<\/p>\n

\"Data <\/p>\n

A CloudHQ data center in Ashburn, Virginia, on May 31, 2026. (Lexi Critchett\/Bloomberg \/ Getty Images)<\/p>\n

Shiller implied that tech leaders like Amodei, who promote doom-and-gloom scenarios their own companies could help realize, are being somewhat short-sighted and should be reined in to prevent an economic recession.<\/p>\n

CLICK HERE TO DOWNLOAD THE FOX NEWS APP<\/a><\/p>\n

“Perhaps the best we can do is to appeal directly to the leaders of Silicon Valley who have been promoting these negative narratives with such vigor,” Shiller wrote.\u00a0<\/p>\n

He continued: “Surely the resulting media attention highlighting how dangerously powerful your AI model is may help you sell more wares, but it may be far harder to do so in a period of recession. Try not to forget the critical lessons taught by our past.”<\/p>\n","protected":false},"excerpt":{"rendered":"FOX Business host Charles Payne discusses the market shift driven by artificial intelligence on Making Money. A Nobel…\n","protected":false},"author":2,"featured_media":729862,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,74],"class_list":["post-729861","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/729861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=729861"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/729861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/729862"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=729861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=729861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=729861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}