fwlr
5 hours ago
Will people find new work to do? And if they do, why wouldn’t AI follow them into their new industry and undercut them there, too? So perhaps it’s not “people will find new uses for their money”, as people won’t have any money to find a use for. Perhaps instead, businesses will find new users of money - the AIs who are now doing all the jobs. At least in principle, I don’t see why there couldn’t be an economy that’s just businesses and agents.
cyanydeez
36 minutes ago
If you want the current scifi projection: AI will just exacerbate wealth inequality. The people who will pay for things will dwindle substantially, but because they have money disposable income, they'll pay more for it.
This is ridiculously easy to demo with a viagra pill. If we sell a million viagra pills to a million people with erectile dysfunction, we earn $1 million dollars, minus whatever production. If we sell one viagra pill, to one dysfunctional Elon Musk at $1 million dollars, minus whatever production.
Well, the Capitalism doesn't care. We're earning the money regardless of the price of the product.
So that's where America's headed. People ask why there's a weird K shaped economy, it's because prices for a lot of things are being bouyed by the upper middle class as bottom feeders of the oligarchy. AI will just keep filtering that herd.
Why does it work? Because the poverty-toil keeps the classes from joining. The race baiting keeps them from aligning. Etc. Etc.