1. DO THIS NOW… Be prepared to share with the class
Turn to your partner and discuss the following question:
”Which jobs would you be willing to entrust to AI or automation? Which jobs would you not be willing to entrust to AI or automation? Explain your answer.”
Be prepared to share with the class

2. Should the government regulation automation and Artificial Intelligence in the labor market?

3. Labor Market in a Nutshell
What is it?
Supply and demand of labor
What are the basics?
Higher wages = more people willing to work, but also fewer available jobs
Lower wages = fewer people willing to work, but more available jobs
Supply and demand curves for labor market

4. Labor Market and Economic Health
Unemployment rate:
Healthy economy has between 4.5% and 5% unemployment rate
Labor productivity:
Healthy economy has a steadily growing rate of labor productivity
Income growth:
Healthy economy has a steadily growing income rate
Unemployment rate since 1969

5. How Does Government Regulate Labor Markets to Benefit Economy?
Minimum wages:
Guarantee minimum hourly pay to increase labor supply
Safe working conditions:
Increase labor supply due to peace of mind in work place
Regulate hours/overtime:
Prevent employers from taking advantage of employees to increase labor supply

6. Problems with Government Regulations of Labor Market?
THE COSTS:
Government regulations in the labor market limit profits
As a result, businesses look for ways to cut costs
Cutting costs will inevitably negatively impact employees
Creation of minimum wage lessens demand for labor

7. Enter Automation and Artificial Intelligence
Automation and AI on the rise:
Huge monetary savings for businesses
Might come at the cost of U.S. laborers
Should the government step in and regulate automation and AI in the labor market?

8. Should the government regulation automation and Artificial Intelligence in the labor market?

9. Fishbowl Discussion Procedures
We will discuss the 3 questions you prepared for homework
For each question, one student from each group of three will be speaking
Those not speaking will be passing notes to those who are
We will switch roles as we switch questions
You will have minutes per question

10. Expectations for Fishbowl Discussion
Respectful discourse with your classmates
Allow others to finish before you speak
Always refer back to the provided text
Let TWO others speak before you speak again
You will be self-assessing your performance at the end

11. Question 1
How do the principles of labor markets (those ideas discussed in Document A) help us understand the possible effects that automation and Artificial Intelligence will have on the U.S. job market (those ideas discussed in Documents B-D)?

12. Question 2
What are the best arguments for and against government regulation of automation and Artificial Intelligence?

13. Question 3
Based on the available evidence, do you believe the U.S. government should regulate the use of automation and Artificial Intelligence in businesses, and if so, what should that regulation look like?

14. Automation and AI Debrief
The good of automation regulation:
Protect jobs of U.S. laborers
Encourage better implementation of automation and AI
Could aid workers in increasing productivity as opposed to replacing them
The bad of automation regulation:
Create economic stagnation
Encourage businesses to move overseas
What classifies as “automated technology/robot”?

15. Reminders
Self Assessment! 