Luis Garicano on Spain, Europe, and the Future of Work

Garicano argues AI reshapes jobs by making them "messier," not eliminating them, sparing relational work while automating clean, specifiable tasks.

• Spain's productivity stall: Zero productivity growth in three decades; 100% of GDP growth since 2008 went to pensions, driven by lowest-fifth fertility and highest-fifth life expectancy globally.
• Housing paralysis: Spain builds under 100,000 homes yearly versus 800,000 pre-2008, with almost no YIMBY movement despite hundreds of thousands of immigrants arriving annually.

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