Recently, I entered the young economist of the year essay competition, a competition where candidates must answer a specific question based on the following:
- Is a country truly wealthy if it has high GDP, but its citizens are unhappy?
- Free trade creates winners and losers — is it desirable?
- Should dynamic pricing be allowed for mega events like concerts/ gigs/ festivals/ sports finals?
- Should billionaires exist in a well-functioning economy?
- How will AI affect long run economic growth in developed countries?
This taught me valuable skills such as analysing data from external articles, developing my own argument and coming to a judgement.
I chose to answer “How will AI affect long run economic growth in developed countries?”
Here is my submission: