Tag: engineering productivity
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AI Layoffs Aren’t Working: The Jevons Paradox
In 1865, the English economist William Stanley Jevons published The Coal Question. His observation was counterintuitive and has stayed that way for 160 years: James Watt’s steam engine was dramatically more efficient than its predecessor, and British coal consumption went up, not down. The efficiency made coal-powered machinery cheaper to operate, which expanded demand for it…
