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21 sats \ 3 replies \ @gmd 19 May \ parent \ on: AI 'godfather' says universal basic income will be needed news
Happening a lot faster now over a much shorter time scale. Most new jobs created will also very quickly be better done by AI. Intelligence is being commoditized rapidly and the value of the human brainpower will rapidly deflate.
What matters is if it will work or not. Money is needed because of scarcity. Whatever AI makes abundant will be freely available. No money needed. Whatever is still scarce, because AI can't pronounce it, will be so valuable that no one will voluntarily trade it for something the government just hands out for free. In the absence of voluntary trade, forced redistribution will be used. No money needed.
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In the absence of voluntary trade, forced redistribution will be used. No money needed.
I'm not arguing that this won't happen, but I have yet to see a coherent argument for how forced redistribution is ever more economically efficient than market forces.
The flip side of your argument is that anything a person can do better than AI will fetch an enormous wage in terms of purchasing power.
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I agree with both points. Forced redistribution is always a complete disaster, which is why UBI won't work. It's forced redistribution in disguise. But the use of money in that situation is a quaint bit of theater to make people think everything is normal. To your second point, the purchasing power will be far too enormous for any UBI trash they hand out.
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