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by ben_w
715 days ago
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> He mentions that AI might create a world of a handful of trillionaires, but doesn’t seem to see this extreme inequality as an issue or existential threat in and of itself. I've not read the book, so I don't know the full scope of that statement. In isolation, that's not a big issue and not an existential threat, as it depends on the details. For example, a handful of trillionaires where everyone else is "merely" as rich as Elon Musk isn't a major inequality, it's one where everyone's mid-life crisis looks e.g. like whichever sci-fi spaceship or fantasy castle they remember fondly from childhood. |
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Right now, in order to grow and thrive, economies need educated people to run it, and in order to get people educated you need to give them some level of wealth to have their lower level needs met.
It's a win-win situation. Poor/starving people go to arms more quickly and destabilize economies. Educated people are the engineers, doctors and nurses. But once human labour isn't needed any more, there is no need for those people any more either.
So AI allows you to deal with poor people much better now than in the past: an AI army helps to prevent revolutions and AI engineers, doctors, mechanics, etc, eliminate the need for educated people.
There is the economic effect that consumption drives economic growth, which is a real effect that has powered the industrial revolution and given wealth to some of today's rich people. Of course, a landlord has the incentive for people to live in his house, that's what gives it value. Same goes for a farmer, he wants people to eat his food.
But there is already a certain chunk of the economy which only caters to the super rich, say the yacht construction industry. If this chunk keeps on growing while the 99% get less and less purchasing power, and the rich eventually transition their assets into that industry, they get less and less incentives to keep the bottom 99% fed/around.
I'm not saying this is going to happen, but it's entirely possible to happen. It's also possible that every individual human will be incredibly wealthy compared to today (in many ways, the millions in the middle classes in the west today live better than kings a thousand years ago).
In the end, it will depend on human decisions which kinds of post-AI societies we will be building.