The Economics of Artificial Intelligence
A Normative Assessment
Published on 9. May 2025
Book
Hardback
246 pages
978-1-0353-4585-4 (ISBN)
Description
This prescient book examines the implications of artificial intelligence (AI) for economic theory and policy. Using actual and simulated data to assess the costs and benefits of AI, Imad A. Moosa outlines its potential threats and recommends ways that mankind can deal with its ramifications.
Moosa discusses regulations and corrective policies, illustrating the technological foundations and evolution of AI. Chapters challenge the view that AI is benign, demonstrating the macroeconomic effects of its usage on wages and income distribution. Exploring the geopolitics of AI, Moosa identifies the existential threat it poses to neoliberal capitalism, arguing that more jobs will be lost as a result of AI than will be created.
The Economics of Artificial Intelligence will greatly benefit students and academics of applied economics, disruptive technology and industry innovation. Its approach to business and sectoral principles will also be essential for politicians, policymakers and practitioners in technology and innovation.
Moosa discusses regulations and corrective policies, illustrating the technological foundations and evolution of AI. Chapters challenge the view that AI is benign, demonstrating the macroeconomic effects of its usage on wages and income distribution. Exploring the geopolitics of AI, Moosa identifies the existential threat it poses to neoliberal capitalism, arguing that more jobs will be lost as a result of AI than will be created.
The Economics of Artificial Intelligence will greatly benefit students and academics of applied economics, disruptive technology and industry innovation. Its approach to business and sectoral principles will also be essential for politicians, policymakers and practitioners in technology and innovation.
Reviews / Votes
''This book masterfully demystifies AI, weaving its origins, technological underpinnings, and economic impact into a compelling narrative. A must-read for anyone seeking to understand AI's transformative potential, its economic consequences, and the policies needed to guide its future.' -- Giancarlo Giudici, Politecnico di Milano, Italy 'In The Economics of Artificial Intelligence Imad A. Moosa explores the multifaceted role of AI in reshaping our world. The book navigates the historical evolution, technological underpinnings, sectoral disruptions, macroeconomic impacts, and regulatory challenges of AI. It dives into its costs and benefits, its interplay with economic theory, and its implications for public policy and global power dynamics. Through comprehensive reviews of the current thinking on the subject coupled with thoughtful reflection, Moosa challenges us to leverage AI's transformative potential responsibly while addressing its societal risks and ethical dilemmas. This book is for anyone interested in understanding the role of AI in modern society.' -- Alberto Posso, Griffith University, AustraliaMore details
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
Professional and scholarly
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-0353-4585-4 (9781035345854)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
The late Imad A. Moosa, formerly Professor of Economics and Finance
Content
Contents
Preface
1 Artificial Intelligence: Definition, Origin and Evolution
2 Technological Foundations of AI
3 The Business and Sectoral Effects of AI
4 The Macroeconomic Effects of AI
5 Realisable Benefits, Perceived Benefits and Adverse
Consequences
6 Regulation and Corrective Policies
7 The Role of AI in Economic Theory and Policy
8 Further Thoughts and Closing Remarks
References
Preface
1 Artificial Intelligence: Definition, Origin and Evolution
2 Technological Foundations of AI
3 The Business and Sectoral Effects of AI
4 The Macroeconomic Effects of AI
5 Realisable Benefits, Perceived Benefits and Adverse
Consequences
6 Regulation and Corrective Policies
7 The Role of AI in Economic Theory and Policy
8 Further Thoughts and Closing Remarks
References