In the late 1990s, a surge in technology-fueled productivity enabled rapid growth, paired with subdued inflation, ample jobs, and low interest rates. Just maybe, the optimists say, AI might create the same happy conditions. • Not so fast, say some leading economists.

The big picture: There are significant differences in the current economic and demographic backdrop — and the nature of the AI rollout — that could mean inflation remains a problem and the job picture more worrying, even if AI lives up to its promise. • The disinflation of the 1990s came about in part due to the information technology revolution, but was helped along by globalization and demography — both forces that are in retreat today. • If you take the predictions of leading executives seriously, AI advances stand t

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