Ask HN: Economists, what would happen if the Fed inserted AI stimulus agents?
What would happen if that agent intelligently spent the money to stimulate the real economy (ie, acquire real things) in the least wasteful way possible? Or asked another way, is there ever a case where stimulus alone (without any other productivity) yields more economic benefit than the liability of the stimulus itself?
And another question: what if that same AI agent not only spent money, but was also productive as well (eg, filed a tax return for me - saving me time without costing me a job). If that helps the productivity equation and makes the stimulus worthwhile, could the Fed scale up these agents to stimulate the economy, and scale them back down if growth were too high?
(For the purposes of this exercise, set aside that the Fed's legal mandate is not about growth, but about unemployment. If you really feel like arguing, let's say it's a new Office of AI Stimulus.)