AIEL616 | Artificial Intelligence, Economics and Law

The spectre of endemic unemployment, driven by automation of economic activities is currently being studied in some detail. There is concern that systemic technological unemployment (‘STU’) will have grave repercussions for public revenue, consumption, economic growth and political stability.

The course will begin with exploring the interrelationships that are inherent in this dynamic – employment, technology, economic growth, aggregate demand and sustainability. Based on the same, an analysis would be undertaken of remedial and mitigating measures that could potentially be employed in dealing with the implications of STU. These would involve investment regulations, tax laws as well as the case for universal income transfer as a consumption safeguard. Various EU, OECD and G20 initiatives dealing with legal status of artificial intelligence, the potential for a tax personhood and ability to pay for robots form the initial edifice of this new area; these initiatives will be studied in detail.