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Economists Flock to AI Labs Amid Capture Risks

Financial Times Companies •
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Economists are increasingly collaborating with or joining AI labs like Google, Anthropic, and OpenAI, drawn by proprietary data and intellectual prestige. Ben Golub notes a "completely different scale of sucking sound" compared to past tech booms, as AI's societal impact dwarfs earlier digital disruptions. Ara Kharazian, Ramp's chief economist, reported surging demand from AI start-ups for economics teams after publishing spending analysis.

Major labs frame this as corporate responsibility, tasking researchers with studying labor markets, inequality, and macroeconomic effects. However, risks of "capture" persist: labs may favor optimistic research over studies highlighting negative impacts like skill disinvestment or work intensification. Past platform data access skewed research toward consumer effects over labor rights.

Anthropic's Peter Mc Crory says publishing methodological frameworks pre-commits to transparency, and labs share more data than predecessors — though not enough to eliminate insider advantages. Economists express cautious optimism, noting internal disagreement on AI's trajectory and CEO Dario Amodei's measured public stance. Approval processes for external collaborations remain opaque.