Marx, Keynes, Technological Progress and Labour: a Backward-looking Perspective on Artificial Intelligence and Time-use

The impact of technological progress on labor has always interested economists and policymakers, especially today with AI’s development. This paper examines the issue from a seemingly distant perspective, namely through the contributions of two giant economists of the past, Marx and Keynes. Regarding Marx, we reconstruct the link between liberation from alienated labor and machine neutrality. Regarding Keynes, we reconsider Economic Possibilities for Our Grandchildren (1930), where the impact of technology on individuals is analyzed. Despite their well-known theoretical differences, our main finding is that for both authors, time (whether saved, spent, devoted to work, or freed from work) and power (in terms of capital and knowledge access and distribution) remain fundamental to a full assessment of the impact of technology on human beings. Drawing on these insights, the final section addresses current challenges posed by generative AI - such as the reallocation of time, the preservation of creativity, and the cognitive risks of automation - and outlines a set of public policy suggestions inspired by Marx and Keynes’s reflections on the impact of technological progress. JEL codes: B10, B14, B15, B31