70% of Americans Fear AI Will Cut Jobs, Hurting Spending and Economic Decisions
Updated
Updated · The New York Times · Jun 22
70% of Americans Fear AI Will Cut Jobs, Hurting Spending and Economic Decisions
3 articles · Updated · The New York Times · Jun 22
Summary
A recent poll found 70% of Americans believe AI will reduce employment opportunities, a fear the author argues can itself damage the economy.
That anxiety can shape household choices on housing, schooling and even whether to have children, potentially turning negative expectations into weaker consumer spending.
The piece argues this pattern is not new: fears of labor-replacing technology stretch from Aristotle to the Luddites and early robot fiction.
It links that dynamic to the Great Depression, when economist Christina Romer found collapsing consumer spending—rather than the 1929 stock crash alone—helped drive the downturn through widespread income uncertainty.