Here’s a different question about AI. Suppose it does what is promised, and does greatly increase productivity, and does bring all kinds of benefits. Who will gain from that? Will those benefits be shared? Will there be 3-day workweeks of 6 hours a day? 6-week vacations?

How Did Trade Work Out For Us?

Think about how it worked out with trade. Economists will explain that trade brings all kinds of benefits. One huge benefit was supposed to come from moving the worst jobs to places where people really need work, so the labor force is freed up to take on higher-level, higher-paid work, and the people on the other side of the trade border who needed jobs now have jobs. Over time this moves around the world lifting everyone. The same was supposed to be true about other benefits and gains from trade.

Democracies Would Make Sure Benefits Were Shared

But the economists assumed that everyone would benefit because democracies would make sure everyone shared those benefits. Why else would a democracy allow factories to close and imports to replace goods made at home? Why else would a democracy allow jobs to be sent away?

What Really Happened?

What really happened? The democracies were “captured” and instead of protecting the public government power protected the few at the top who had done the capturing. Jobs were moved out, factories were closed, and people were just laid off (too bad so sad here’s some Oxycontin). Unions were broken. Entire “rust belt” regions were utterly devastated. The middle class was forced downwards, while income and wealth shifted upward.

Here Comes AI

So now AI threatens to accelerate those changes. Democracy is gone and we all know the gains from AI won’t be shared. Instead AI will be used to force more and more people out of work, their wages instead going to a top few. This will further increase centralized power and wealth at the very top.

There Can Be Only One

This increasing concentration will accelerate and become a winner-take-all game. The oligarchs all understand this process of concentration, and are racing to be the winner in the AI race — to be the one person who gets it all. Literally all.

Hence the massive investment into AI we are seeing. Hence the bubble. It’s like nothing else matters.

Nothing Else Matters

It doesn’t matter to the massively-wealthy what happens when the bubble bursts. They understand this is about being the ONE person in control of what happens and who won’t be destroyed. They even say it – if AI becomes superintelligent they want to be the ONE person controlling that. And the current “system” is set up – by them – to let that happen.

That’s why they have rigged the system to keep We the People from stopping them.