> this paper focuses specifically on the zero-sum nature of AI labor automation... When AI automates a job - whether a truck driver, lawyer, or researcher - the wages previously earned by the human worker... flow to whoever controls the AI system performing that job.
The paper examines a world people will pay an AI lawyer $500 to write a document instead of paying a human lawyer $500 to write a document. That will never happen.
If I understand correctly, this paper is arguing that investors will desperately allocate all their capital such that they maximize ownership of future AI systems. The market value of anything else crashes because it comes with the opportunity cost of owning less future AI. Interest rates explode, pre-existing bonds become worthless, and AI stocks go to the moon.
It's an interesting idea. But if the economy grinds to a halt because of that kind of investor behavior, it seems unlikely governments will just do nothing. E.g. what if they heavily tax ownership of AI-related assets?
Lawyers are like chartered engineers. It's not that you cannot do it for yourself, it's that using them confers certain instances of "insurance" against risk in the outcome.
Where does an AI get chartered status, admitted to the bar, and insurance cover?
Is a small group really going to control AI systems or will competition bring the price down so much that everyone benefits and the unit cost of labor is further and further reduced.
WorkerBee28474 ·9 hours ago
> this paper focuses specifically on the zero-sum nature of AI labor automation... When AI automates a job - whether a truck driver, lawyer, or researcher - the wages previously earned by the human worker... flow to whoever controls the AI system performing that job.
The paper examines a world people will pay an AI lawyer $500 to write a document instead of paying a human lawyer $500 to write a document. That will never happen.
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wcoenen ·2 hours ago
It's an interesting idea. But if the economy grinds to a halt because of that kind of investor behavior, it seems unlikely governments will just do nothing. E.g. what if they heavily tax ownership of AI-related assets?
qingcharles ·8 hours ago
I was thinking religious leaders might get a good run. Outside of say, Futurama, I'm not sure many people will want faith-leadership from a robot?
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ggm ·8 hours ago
Where does an AI get chartered status, admitted to the bar, and insurance cover?
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daft_pink ·8 hours ago
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