Economic Turbulence: Immigration, AI, and Global Policies

Explore the potential economic impact of mass deportations in the U.S. and how industries might cope with labor shortages. Delve into the groundbreaking role of AI in economic decision-making, as ChatGPT challenges human rationality. Uncover the hidden vulnerabilities in Ireland's economy amidst a booming surface, and examine the UK firms' response to recent fiscal policies with planned price hikes. This episode of 'Simply Economics' offers a comprehensive analysis of these pressing issues, providing insights into the intersection of policy, technology, and economic stability.

Sources:
https://www.economist.com/finance-and-economics/2025/01/06/can-americas-economy-cope-with-mass-deportations
https://cepr.org/voxeu/columns/emergence-economic-rationality-gpt
https://www.rte.ie/news/business/2025/0106/1489393-economy-analysis/
https://www.theguardian.com/business/2025/jan/06/uk-firms-plan-price-rises-as-confidence-falls-to-lowest-level-since-truss-budget

Outline:
(00:00:00) Introduction
(00:00:40) Can America’s economy cope with mass deportations?
(00:03:40) The emergence of economic rationality of GPT
(00:06:33) Economy looks good but problems lurk beneath
(00:09:18) UK firms plan price rises as confidence falls to lowest level since Truss budget