Imagine this scenario:
- All companies start producing mostly using only AI and firing people, because people have no use anymore
- Joe spend most of his income on digital video games products
- Joe get fired because he got replaced by AI now, since AIs are taking over most jobs
- Joe has no income anymore
- Joe doesn’t have any more money to spend on video games
- Companies have no more profit, because people don’t have income, so people can’t spend on their AI produced products
In this scenario both lose, the company adopting AI and the worker. Am I missing something? Is there any possibility besides Universal Basic Income to keep the system running and not collapsing?
Funny thing, a Scottish fellow named Adam Smith figured that an economy where people don’t have money to spend ends up stagnated and/or fucked over. Somewhat ironically, that is the piece that is most often overlooked by today’s liberal economists (the kinds that are in favor or less regulation and taxes)
Most rich assholes like the idea of lording over a bunch of dirty peasants, of feeling superior to the unwashed masses, having them offer themselves into slavery out of “free will”