Dear all, we kindly invite you to our next Economic Theory and Policy Seminar Talk on Monday, January 27, 2025, 3:30PM - TU Wien, Seminarroom: DB gelb 03 (Freihaus Building, 3rd floor, yellow area) "Steering Technological Progress" Anton Korinek (University of Virginia) https://www.korinek.com/ with Joseph E. Stiglitz (Columbia University) Rapid progress in new technologies such as Artificial Intelligence has led to widespread anxiety about potential job losses. This paper asks how to guide innovative efforts so as to increase labor demand and create better-paying jobs. We develop a theoretical framework to identify the properties that make an innovation desirable from the perspective of workers, including its technological complementarity to labor, the factor share of labor in producing the goods involved, and the relative income of the affected workers. Examples of labor-friendly innovations are intelligent assistants who enhance the productivity of human workers. The paper discusses measures to steer technological progress in a desirable direction for workers, ranging from nudges for entrepreneurs to changes in tax, labor market and intellectual property policies to direct subsidies and taxes on innovation. In the future, we find that progress should increasingly be steered to provide workers with utility from the non-monetary aspects of their jobs. Further Events: https://www.tuwien.at/en/mg/econ/events Best, Julia Hutter for Alexia Fuernkranz-Prskawetz Julia Hutter TU Wien Institute of Statistics and Mathematical Methods in Economics Research Group Economics Phone: +43 1 58801 10531 Mail: julia.hutter@tuwien.ac.at<mailto:julia.hutter@tuwien.ac.at> https://econ.tuwien.ac.at/