pull down to refresh
Yes, but a cheaper substitute for intelligence inputs will also reduce costs of producing stuff. It's not obvious that the purchasing power of people's labor will decline and it generally doesn't after technological displacement.
Have you posted about this before on SN? I don't think I've seen your take on this.
Not specifically. It's pretty conventional application of economic theory, so I just drop it in comments.
Yes, but a cheaper substitute for intelligence inputs will also reduce costs of producing stuff. It's not obvious that the purchasing power of people's labor will decline and it generally doesn't after technological displacement.