Economists Say Newest AI Technology Destroys More Jobs Than It Creates (2014)

Take this idea to its ultimate end point and their are no jobs.

Its the Super Rich that have to change their viewpoint as there ultimately has to be a new way to distribute wealth.

Everyone is entitled to a wage without work, and the Rich and Powerful must redistribute to all others is there will be anarchy.

A slow but sure increase in a basic income is the only peaceful pathway to that new future.

AI will allow a single worker to do work that previously would have required hundreds or thousands or workers, hence increasing the value of each worker and their salary.

Jobs will disappear in many places and appear in others because the world will be completely different.

Less than half the population works and pays for everything everyone else uses. The majority are not in the "people like to work" camp. Its not going to be a major problem. Over half the population either strives (no change necessary) or simply exists (no change necessary)

There's a lot of political sloganeering about redistribution and basic incomes that make it politically impossible. What seems likely to me is utility-ization of more services and abstraction of who pays (if anyone). That's a free public utility sounds a lot more likely politically than "forced redistribution of wealth at gunpoint" or "basic income" or "universal welfare" or whatever. Even if it ends up being the same thing with a different name.

You don't need to wave cash in the air to obtain a policeman's service and this seems quite normal. Obviously "somehow" some kind of shuffle game is producing salary for that policeman, but its kinda abstract and out of sight. Likewise our supermarkets are likely to go extremely downscale in quality, but will have no cash registers.

People will continue to trade labor for money and trade money for services and better class of stuff. I'm just thinking in 2075 it'll seem conceptually weird to pay an electric bill, just like it would seem conceptually weird today to obtain a policemans services by waving a $20 in the air. Paying an exit fee at a register at a public food store will seem as weird as paying an exit fee to a public library. Why would I pay for medical care, I don't pay for water or oxygen or wifi? No one expects a bill for storm drain service today, its very abstract. Likewise no one will get a bill for natural gas service, although in a very abstract sense someone will get paid for it.

Now the public food store will have little better than human kibble able to keep alive but if you want the fancy stuff, get a service job and trade for really good food. I suspect the black market will flourish.

How the new economies will deal with legacy economies like real estate or FIRE sector in general or the legacy IP economy will be interesting to watch.

> and their salary

Computers have made office workers an order of magnitude more productive than they were 60 years ago. Their salary hasn't gone up proportionately.

At the point where the people can all stop working and nobody starves.