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In a speech of 12 November 2015 to the Trades Union Congress, Andrew G Haldane, Chief Economist of the Bank of England, discussed smart machines and artificial intelligence as substitutes for human work, asked what these labour-market trends imply “for the economy and monetary policy”, and set out how a flat rather than rising labour share would lower the MPC’s projected paths for wages and inflation. Copy claim link
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Supporting evidence: primary · 1 source; Context: primary · 1 source
Date 2015-11-12 · event Records dated 2015 → Role Earliest located Register (kind of text) Nonfiction Scope and limits AI is one part of a wider technological change (“smart machines”, the “Second Machine Age”), as in Carney 2018; the monetary-policy passage concerns the substitution of capital for labour in general and a projection scenario, not AI alone or a policy decision. The speaker’s view, with disclaimer.
The evidence 05 primary source Supports the claim
Labour’s Share ↗ Bank of England · 2015-11-12
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Source excerpt “One source of such advantage is that Artificial Intelligence (AI) – the machine brain - differs in several important respects from human intelligence – the human brain.” Location in source PDF p. 13 (printed p. 13)
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Andrew G Haldane Version Retrieved for the candidate pack on 2026-11-04 (SHA-256 e9c2a56b63807fb43d6e395015d380c9beb3d02f79b6ef75e1a9cbe4a13e9ed0). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Andrew G Haldane, “Labour’s Share”, 2015-11-12. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (27 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Supports the claim
Labour’s Share ↗ Bank of England · 2015-11-12
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Source excerpt “Turning to the nearer-term, what if any implications do these labour market trends carry for the economy and monetary policy?” Location in source PDF p. 16 (printed p. 16)
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Andrew G Haldane Version Retrieved for the candidate pack on 2026-11-04 (SHA-256 e9c2a56b63807fb43d6e395015d380c9beb3d02f79b6ef75e1a9cbe4a13e9ed0). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Andrew G Haldane, “Labour’s Share”, 2015-11-12. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (20 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Supports the claim
Labour’s Share ↗ Bank of England · 2015-11-12
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Source excerpt “That might arise because technology has made it easier and cheaper than ever before to substitute labour for capital, man for machine. That is the very essence of the Second Machine Age hypothesis.” Location in source PDF p. 17 (printed p. 17)
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Andrew G Haldane Version Retrieved for the candidate pack on 2026-11-04 (SHA-256 e9c2a56b63807fb43d6e395015d380c9beb3d02f79b6ef75e1a9cbe4a13e9ed0). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Andrew G Haldane, “Labour’s Share”, 2015-11-12. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (33 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Supports the claim
Labour’s Share ↗ Bank of England · 2015-11-12
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Source excerpt “So how different might the MPC’s projections look if the labour share was, say, flat rather than rising over the next few years?” Location in source PDF p. 17 (printed p. 17)
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Andrew G Haldane Version Retrieved for the candidate pack on 2026-11-04 (SHA-256 e9c2a56b63807fb43d6e395015d380c9beb3d02f79b6ef75e1a9cbe4a13e9ed0). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Andrew G Haldane, “Labour’s Share”, 2015-11-12. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The quotation (23 words) matched a fresh retrieval of 2026-11-06 (the same file the candidate pack read). Matching ignored differences of whitespace, case, quotation marks, dashes, line-break hyphens and Unicode compatibility forms. No human editorial review. primary source Context only
Labour’s Share ↗ Bank of England · 2015-11-12
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Source excerpt “The views are not necessarily those of the Bank of England or the Monetary Policy Committee.” Location in source PDF p. 1, cover page
How it was read Retrieved directly from the publisher
Machine-checked · 2026-11-06
Source details and check notes Authors Andrew G Haldane Version Retrieved for the candidate pack on 2026-11-04 (SHA-256 e9c2a56b63807fb43d6e395015d380c9beb3d02f79b6ef75e1a9cbe4a13e9ed0). Retrieved again at admission on 2026-11-06 (same file). PDF of the speech text as published by the Bank of England Canonical address Open the canonical source ↗ Accessed 2026-11-06 Language English (en) Attribution Andrew G Haldane, “Labour’s Share”, 2015-11-12. Reuse No open redistribution licence asserted. Bibliographic metadata, editorial paraphrases and short attributed quotations (at most 50 words each). Recheck terms before wider redistribution. Check notes Candidate pack passage, AI and money (research/ai-money). The text’s own statement of whose views it gives, shown beside the record; it is context, not support. The quotation matched a fresh retrieval of 2026-11-06. No human editorial review. Status and meaning Editorial status. Machine-checked . Machines found this record and checked it against its sources; no person accepted it individually. Each evidence record above shows how it was checked.
Relation. A passage of the document meets the proposition’s criterion. The record documents what the text states, in its register (fiction and satire are labelled); it is not evidence that the proposition is true and implies no influence on or from another text.
Date. Date the speech or remarks were delivered, as the text gives it.
Record ID am-u06-boe-2015-haldane-labours-share