AI economic plan needed before crisis, single-source report warns
7 reported
A single-source report from Vox warns that the United States lacks a detailed, ready-to-pass economic plan for the rapid scaling of artificial intelligence, which the article describes as unfolding faster than previous technology booms. The article, written by a former Vox employee now at the Center for Shared AI Prosperity, argues that AI progress may create an economic emergency similar to the Covid-19 pandemic or the 2008 financial crisis, when policymakers briefly accepted large risks and changes. It notes that such crisis windows open and close quickly, citing the bipartisan support for cash payments and bailouts in 2020 and 2008 that vanished within months. The article states that current proposals from AI labs lack legislative detail, while figures like Gina Raimondo offer fixes such as retraining that are too small for a transition that could eliminate entire job categories. The author calls for collecting detailed policy ideas for tax codes and safety nets suited to the AI era, with an open Request for Ideas offering funding for the best proposals.
What’s reported
The article reports that AI is scaling faster than the internet or mobile booms and may speed up further.
Anthropic reported an annualized revenue rate of $47 billion as of May, up from $30 billion a month earlier, equaling Coca-Cola and exceeding Netflix.
The article states that if Anthropic’s revenue continues growing at 56.7 percent a month, it could outpace Amazon by late November or early December.
The article cites the Covid-19 pandemic as an example of a brief policy window: the CARES Act passed with a unanimous Senate vote and House voice vote, including payments up to $1,200 per adult and $600 per week in unemployment insurance.
The article notes that by May 2020, Senator Tom Cotton had pivoted to the No Bailouts for Illegal Aliens Act, and by August he had a bill denying virus-related funds to people convicted of federal offenses due to “riots.”
The 2008 financial crisis is cited as another example: the Bush administration supported a stimulus package in February 2008, and the TARP bailout came from a “Break the Glass Plan” drafted in April 2008 by Treasury officials Neel Kashkari and Philip Swagel.
The article states that the Center for Shared AI Prosperity, a new DC-based research group, is collecting policy ideas with an open Request for Ideas that includes funding.
Key figures
Tom Cotton, Republican Senator
Gina Raimondo, DC figure (role not specified in article)
Neel Kashkari, former Bush Treasury official
Philip Swagel, former Bush Treasury official
Hank Paulson, former Treasury Secretary (mentioned as boss of Kashkari and Swagel)
Nancy Pelosi, former Speaker of the House
George W. Bush, former President
Sources: vox.com
