If the government doesn’t mess it up, that is.

Stephen Moore and the Abundance Institute’s Neil Chilson write today at Fox News:

In our new study, “Boomsday Not Doomsday,” we show AI can become the most powerful engine of American prosperity in decades. How? AI lowers the price and speeds up production of nearly everything we use: from food, to steel, to cars, to information, to new homes, to new cures for diseases. How does a four-day workweek sound? …

We have been through panics before. In 1900, more than one in three Americans worked in agriculture. Today fewer than 2% do, and we produce 10 times more food on one-third as much farmland. America did not collapse into permanent unemployment. We grew more food with fewer hands. The economy created hundreds of millions of jobs no one could have imagined. The pattern repeats with every leap forward. Technology automates drudgery, raises productivity, and creates new opportunities…

Washington faces a clear choice. It can tax, regulate, ration, or nationalize this technology, reserving its benefits for itself and the biggest companies – and the Chinese. Or, as we did so effectively with the Internet Revolution, we can lead the world and enjoy the fruits of winning the race.

The full paper is here: