You’re describing the end goal of monopoly
Software has already been doing a lot of stock market buying and selling for many years, even before AI came along, I imagine that sort of concept but on a more expansive scale, for a start!
Back in the 1980’s they told me it’d trickle down.
…eventually.
They were actually talking about how they were pissing on the living room floor while we’re in the basement.
He peed on the rug :(
I really liked that rug, man. It really tied the room together
Where’s the fucking money Lebowski!
Well where is the fucking money, Lebowski?
The real answer is no one. They will quickly realize that at the root of the economy are the regular people, and since the economy is a cycle, when you cut off a part, the cycle doesn’t work anymore.
People (doomers) here are saying businesses and rich people will, but this can only, work for a limited time, because either the products will shoot up in price since only the rich can afford them, or the businesses won’t be able to sell their products, so they can’t buy new things, which means no more revenue to the shareholders.
Think of all the companies that live from b2b models, when you look closer, they are all at some the suppliers of b2c businesses, except, maybe military companies. That company that makes the lithography machines (asml) only sells to other businesses such as tsmc. Tsmc also only sells to other businesses, but they sell to businesses that sell to consumers.
i don’t think prices will shoot up, it’s just the wealthiest will have accumulated the absolute most amount of wealth they possibly could. Everything would crash but they would own everything. That’s of course if AI can fully replace us and produce everything that humanity needs practically forever but behind a paywall.
Whoever still has money. Either importing wealthy immigrants to replace the American market or they’ll move their products to the markets that still have money.
When there is a scarcity of resources a population will shrink to sustainable levels. Right now there are too many people to share the scraps left from the billionaires hoovering up all the capital. People will stop having kids, others will die homeless, and population will decrease just as happens in any population of animals experiencing scarcity.
People in other countries
Someone always has the money. That’s who will be buying things.
If all the money is hoarded by the rich, who is going to spend money to make the economy run?
The rich will live in their bunkers while society collapses and blame it all on communism.
The rich will keep trading with each other. Look at housing for an example.
This is a common question in economics.
It’s called technological unemploymemt and it’s a type of structural unemployment.
Economists generally believe that this is temporary. Workers will take new jobs that are now available or learn new skills to do so.
An example is how most of the population were farmers, before the agricultural revolution ans the industrial revolution. Efficiency improvements to agriculture happened, and now there’s like only about 1% of the population in agriculture. Yet, most people are not unemployed.
There was also a time in England when a large part of the population were coal miners. Same story.
Each economic and technological improvement expands the economy, which creates new jobs.
There’s been an argument by some, Ray Kurzweil if I remember correctly, but others as well, that we will eventually reach a point where humans are obsolete. There was a time when we used horses as the main mode of land transportation. Now, this is very marginal, and we use horses for a few other things, but really there’s not that much use for them. Not as much as before. The same might happen to humans. Machines might become better than humans, for everything.
Another problem that might be happening is that the rate of technological change might be too fast for society to adapt, leaving us with an ever larger structural unemployment.
One of the solution that has been suggested is providing a basic income to everyone, so that losing your job isn’t as much of a big problem, and would leave you time to find another job or learn a new skill to do so.
A major problem is all the money from these increases in efficiency go to a handful of people, who then hoard it. A market economy cannot work with hoarding, the money needs to circulate.
A market economy cannot work with hoarding, the money needs to circulate.
The money is life. The money must flow.
Our robot overlords will.
But more seriously: There is a lot of stuff that AI can’t do. And is far off of. It can barely do anything at all for me. Like translate stuff or re-write an E-Mail. The rest is hype. It can’t do my laundry, clean up the kitchen. It can’t drive the train that gets me to work, not fix a toilet. And it’s years if not decades away from being able to do it. I’d be worried if I had some callcenter job or first level support. Or was a useless manager who just pushes paper around all day. These jobs are going to be replaced fast, yes. But it’ll take some time for lots of other jobs.
And if we (at some point) advance to a future, where we live in abundance, and technology can do all the hard work, so humans don’t have to… Wouldn’t that be great? We could do whatever we want. Of course culture and society has to change. We can’t have concepts like salaries if we don’t work. But by definition we’d have our basic needs met. Food will be enough, or we wouldn’t not work anymore. So I guess we just do away with money. Or everyone gets a fixed amount. You could make up your own job. Do arts and crafts, or travel, or spend the day with your kids.
There is one big caveat, however: We won’t automatically arrive in a Star Trek post-scarcity utopia. Currently all the AI is owned and designed by big corporations. They also own the computers to run it and they are in control of it. And there is a lot of corporate greed, lobbyism and generally unhealthy divide. I’d say it’s very likely that rich people and big, greedy corporations will want to keep everything to themselves. The rich will get richer and assert their dominance with this powerful tool. The poor will get poorer. And can’t compete with that at all. And despite theoretically living in a sci-fi world, it’ll be a dystopia and end in a big mess / class war / oppression.
But yeah, you’re right. Our current form of economy with supply and demand, and money, won’t work under those conditions. And I don’t think there is a fix to it sou we could keep it.
Everyone will be working multiple shitty service jobs that robots are not cost effective to automate. Our miserable wages will be just sufficient to keep the wheels on the cart from falling off.
But not enough to pay rent.
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Which will be often with all the microplastics in our balls.
They got us by the balls…from inside our balls! You think Nestle cares about the microplastics they contaminate their water with? Fuck no!
They won’t, they’ll simply die and the market will slowly adjust to those with capital.
This is all happening because we shot a gorilla in 2016 btw.
Don’t forget your sacred duty boys, dicks out for Harambe.
It’s the only way to fix this fucked timeline
How is everyone going to be fired by AI? First define AI, because what we have now is a bunch of LLMs.
In the end, it’s more practical to have both working in tandem. You have a person who has common sense guiding and an AI tool who assists the person in doing the work.
At worst, people would have to up skill/re skill to have working experience with AI tools.
But people are not gonna stop working. New jobs will be created and some old jobs will disappear, as it has been the case
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Remember when crypto replaced all the banks?
No, I actually don’t remember that. When did this happen?
exactly his point
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It still might, but only if you invest in my Wooshcoin.
I dunno man, this tech is evolving quickly. It’s a fad and buzzword now but at one point so was social media and the Internet. I only see this growing and getting bigger.
