Raghuram Rajan pitches AI tax idea for govt coffers amid ‘jobocalypse’ fears
Former RBI Governor Raghuram Rajan has proposed a tax on AI 'tokens' used by corporations to replace human labor. He argues this would level the playing field between human employees and automated systems while funding worker retraining programs.
Why it matters
Addresses the growing economic debate regarding AI-driven job displacement and the potential need for new fiscal policies to manage automation.
Raghuram Rajan, former Reserve Bank of India governor, has pitched an AI tax idea that suggests companies may have to pay more every time they use artificial intelligence to replace work done by a person.In a recent Project Syndicate column titled How Corporations Can Mitigate an Al Jobocalypse , Rajan suggested that governments could tax the AI “tokens” companies use and use incentives to encourage businesses to retrain and retain employees.The idea is not to stop companies from using AI.
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