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> There has been some increase in capital's share of income, but economic analyses show that the cause is rising rent and not any of the other usual suspects (e.g. tax cuts, IP law, technological disruption, regulatory barriers to competition, corporate consolidation, etc) (see Figure 3): > https://www.brookings.edu/wp-content/uploads/2016/07/2015a_r... The paper referenced by the that article excludes short term asset (i.e. software) depreciation, interest, and dividends before calculating capital's share. If you ignore most of the methods of distributing gains to capital to it's owners, it will appear as though capital (at this point scoped down to the company itself) has very little gains. The paper (from 2015) goes on to predict that labor's share will rise going forward. With the brief exception of the COVID redistribution programs, it has done the opposite, and trended downwards over the last 10 years. > I believe that both governments and companies would recognize that it would be an extremely dangerous asset for any party to attempt to own. We can debate endlessly about our predictions about AIs impact on employment, but the above is where I think you might be too hopeful. AI is an arms race. No other arms race in human history has resulted in any party deciding "that's enough, we'd be better off without this", from the bronze age (probably earlier) through to the nuclear weapons age. I don't see a reason for AI to be treated any differently. |
>AI is an arms race.
What I'm trying to convey is that the types of capabilities that humans will always uniquely maintain are the type that is not profitable for private companies to develop in AI because they are traits that make the AI independent and less likely to follow instructions and act in a safe manner.