I believe the rapid hockey stick-shaped advances of AI will lead to the end of capitalism as we know it. And the end of employment. People will use AI to create worker-cooperative-owned self-managed enterprises. People will be compensated for being part of the caring economy and for being caring and kind, good people. We will need compassionate, humane, caring people with expertise in caring for and relating to human beings more than ever before, and they will be well compensated.
If even 25% unemployment occurs, some predict it could be 95%, it would equal that of the Great Depression & be catastrophic for capitalism. Without jobs & money, there’s no demand, without demand, there’s no corporate profit, no matter how many AI agents and robots they replaced us with.
We are entering into a shift of epic proportions.
Facebook, X, IG, YouTube, all of these data-collecting and selling platforms that count on our free labor and content, and our spending dollars on their ads, will have to become user-owned and pay content creators, including users who post to them a piece of their income, or be replaced by platforms that do! I foresee these recent robber barons retiring to the New Zealand bunkers and gated compounds, trying in vain to figure out how it all slipped away when they were gripping it so tightly.
I foresee a new economic system, as Emad describes in the above video. It will be formed with decentralized digital currencies, with blockchain technology, that rewards those who create benefits for others, including their community & society, with credits that can be exchanged on a decentralized market owned by the public.
The economy will cease to be based on consumption and extraction. It must. That model is clearly not sustainable.
I say, good riddens to jobs! BS jobs people hate that suck their soul out of them, but they are forced to spend their lives working month to month. People work jobshoping one day if they are lucky to retire from they might have enough healthy years to actually spend time with the people they love doing the things they love. Something that’s more and more a false promise that reminds me of the movie Logan’s Run. (Google it, youngsters!)
Having some people own businesses, houses, stocks, while the majority rent and work just to make ends meet and never build wealth, is a form of economic apartheid. One set of rules for the owners, another disastrous set of rules for the rest.
People should work in alignment with their passions, purpose, and values; doing any less is a waste of the precious lives we were given.
AI and robotization will end up liberating the masses from the exploitative system of consumerism-driven wage slavery and allow a democratization of economics that apportions resources fairly and humanely.
