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AI is a substitute for physical capital for many industries, for example, in the tech industry. Suppose you are Elon Musk and you have to

AI is a substitute for physical capital for many industries, for example, in the tech industry. Suppose you are Elon Musk and you have to decide how many economists and computer science engineers to hire next year. Suppose your budget for research is 20% of your total expenditure and you spend it either on your workers' wages or AI software

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