>> If or when that happens, I think the economy would morph into a new thing completely focused on serving the whims of those "owners."
> I think you might be a little behind on economic news, because that's already happening. And it's also rapidly reshaping business models and strategic thinking. The forces of capitalism are happily writing the lower and middle classes out of the narrative.
No, that doesn't surprise me at all. I'm basically just applying the logic of capitalism and automation to a new technology, and the same thing has played out a thousand times before. The only difference with AI is that; unlike previous, more limited automation; it's likely there will be no roles for displaced workers to move into (just like when engines got good enough there were no roles for horses to move into).
It's important to remember that capitalism isn't about providing for people. It's about providing for people with wealth to exchange. That works OK when you have full employment and wealth gets spread around by paying workers, but if most jobs disappear due to automation there's no mechanism to spread wealth to the vast majority of people, so under capitalism they'll eventually die of want.
> I think you might be a little behind on economic news, because that's already happening. And it's also rapidly reshaping business models and strategic thinking. The forces of capitalism are happily writing the lower and middle classes out of the narrative.
No, that doesn't surprise me at all. I'm basically just applying the logic of capitalism and automation to a new technology, and the same thing has played out a thousand times before. The only difference with AI is that; unlike previous, more limited automation; it's likely there will be no roles for displaced workers to move into (just like when engines got good enough there were no roles for horses to move into).
It's important to remember that capitalism isn't about providing for people. It's about providing for people with wealth to exchange. That works OK when you have full employment and wealth gets spread around by paying workers, but if most jobs disappear due to automation there's no mechanism to spread wealth to the vast majority of people, so under capitalism they'll eventually die of want.