Very interesting thought experiment. As I think through this, the deflationary cycle would happen only if most workers were tech workers. This is not true and all the carpenters and plumbers should benefit from technology costs going down. Would the ripple effect of knowledge economy collapsing be too much to cope? I don't know. Recently saw a tweet that language models are horrible at doing scientific research. Maybe these tech workers can focus more on stuff like research.
My own feeling: AI will do what computers did 30 years ago and massively improve productivity and bring wealth to societies.
Also, you should post these links on Twitter :)
Very interesting thought experiment. As I think through this, the deflationary cycle would happen only if most workers were tech workers. This is not true and all the carpenters and plumbers should benefit from technology costs going down. Would the ripple effect of knowledge economy collapsing be too much to cope? I don't know. Recently saw a tweet that language models are horrible at doing scientific research. Maybe these tech workers can focus more on stuff like research.
My own feeling: AI will do what computers did 30 years ago and massively improve productivity and bring wealth to societies.
I expect at least in the US though, most of the purchasing power is from knowledge workers?
Or Jonah, being the great American consumer, keeps all his subscriptions by charging them on a credit card until he finds new work.
Earning all those points 🥰