If it’s a monopoly yes. But there are massive profits in full automation. I’m not expecting costs to go to zero but it’s the only pathway to things getting cheaper by a lot.
I think we get hung up on definitions and end conditions when we are more likely to feel the effects of the asymptotic regions ala AGI or Full Automation
The exact situation I laid out:
“If it takes 10 construction workers at $60,000/annum to build one home, I can forsee the descendants of current AI tech enabling 10 construction workers at $150,000/annum building 5 homes in the same time with an even larger profit margin for the corporation involved.”
Is the most likely condition if we let this technology grow healthily with the exact “full automation” end condition being beyond the point of diminishing returns.
This is a lot of very wealthy workers building products for a lot of people with revenue growing but margins plateauing and therefore absolute profits growing as well. This is an exact repeat of the Industrial Revolution situation,