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TL;DR
Thorsten Meyer’s new book ‘After the Paycheck’ critically examines AI’s influence on employment and wealth. It argues that ownership of AI tools, not automation alone, will determine economic outcomes, challenging popular narratives.
Thorsten Meyer has released a new book, ‘After the Paycheck’, which provides an honest analysis of how artificial intelligence is transforming the economy, especially in terms of jobs and ownership. The book challenges both alarmist and utopian narratives by grounding its insights in data and real-world observations, emphasizing that the key issue is who owns the AI and the data behind it.
The book, available serialized in the Post-Labor Economics section and as an e-book, dissects how AI reaches jobs by gradually peeling off tasks, making work more precarious before full replacement occurs. Meyer highlights that early evidence shows younger workers and recent graduates are among the first to face disruption, often before the broader public perceives the change.
He categorizes responses to AI-driven disruption into three main strategies: income support measures like basic income or job guarantees; ownership models such as employee equity and sovereign wealth funds; and reskilling initiatives. Meyer stresses that while income support addresses immediate needs, it does not alter ownership structures, which are central to wealth accumulation and distribution in the AI era. Reskilling, though often oversold, can be effective if aligned with actual demand. The book also emphasizes the importance of critical analysis of headlines claiming AI is killing or creating jobs, noting that research findings are often contradictory.
He states that the core issue is the concentration of ownership—those who control AI models, data, and computing power will benefit most, potentially widening economic inequality if ownership remains concentrated. Meyer admits his own bias, as he benefits from AI tools, but maintains that his analysis is grounded in data and experience, offering a pragmatic view of possible futures.