Earlier quoted context omitted.
If increased productivity equaled job loss, there would be two programmers alive today, doing the same job as the fewer than 10000 programmers using punch cards as we entered the year 1950. A lot of projects today are not even greenlit because they would be too expensive to make. For instance, there are a lot processes in almost every country that require you to file paper forms, even though we have had web forms and…
Something like 97% of all jobs have been eliminated since the Industrial Revolution started ~250 years ago. And instead of the 97% unemployment our intuition tell us would happen, we're instead 30x as productive. The same will happen when/if AI makes writing software far more effective.
Economic productivity simply means output per worker. So, we could make 97% of the US population permanently unemployed tomorrow, and as long as the AI replacement labor yielded equal or greater proceeds to the remaining 3%, we’d see a colossal increase in “productivity.”
That would be in the interest of the 3% to do (or attempt), which is what makes the scenario so scary.