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Khosla offered a calculation of the issue’s size and scope: “$15 trillion of U.S. GDP is labor,” he said, “$15 trillion that will mostly go away.” He framed this not as a catastrophe but as a structural transformation—a deflationary shock that conventional economists are not adequately modeling. “That’s a hugely deflationary economy,” Khosla said, adding that nobody is factoring that into their forecasts for the future. (Citrini called this “ghost GDP” and warned of a “deflationary spiral” with aftereffects far beyond the white-collar workforce, because “machines spend zero dollars on discretionary goods.”) But there is a good aspect of this kind of deflation, Khosla argued: abundance.
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