re: Will Universal, High Income Work?

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A world exists where AI CAN do those things, but it's not economical at the moment and I don't see how it can be for awhile.

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Thing is though, AI development is actually outpacing Moore's "Law." AI capability doubles every 3 to 6 months, instead of every 2 years. Within even 5 years from now AI is going to be so much further advanced than it is right now that what we see currently will look like Atari's Pong.

No

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Any economist will tell you that it will not work as intended. Inflation would result and blunt the purchasing power of that "high" income, much like when blue states raise minimum wages for fast food workers.

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I mean, Elon Musk is an economist and he is stating the opposite. I would argue he is also the most successful economist in the world.

I understand the basis of what Elon is saying. That AI will be exponentially more productive and efficient which will radically lower costs and produce an abundance.

The problem is that greedy corporations don't care about making folks lives easier. They will keep all the profits and not reduce the cost.

There is no possibility of a eutopian society where everybody has plenty, r at least thinks they have plenty. Some will always have more than others. In the US the. “poor” are often obese from consuming too many calories while having free housing, healthcare, groceries, etc. They also have free access to internet along with cell phones and big screen TV’s., yet they are “poor”.

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Amazing that as the day when we don’t need as many people to work just begins to dawn all Western governments import millions of unskilled immigrants.

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Yea, we are having two conflicting conversations:

1. What will we do with all the unskilled labor when AI takes over and creates mass unemployment?

2. Let's bring in millions of laborers that we cannot support now, much less in the future.

Makes no sense.

Financially, it could work. If robots can do all jobs, then there will be no need for people to work. Once the production costs are lowered as Elon says, shortages won't exist and everything can be cheap.

We will even be able to order goods at will and have them made custom, but consumption will have to be limited in some way.

The problem will be idle hands. Drug use and violence will rise. Look at black youths now. That problem will multiply.

The solution is to identify the people who can't handle freedom and responsibility and remove them from society. It will be even more critical to have a high trust society at that point, and that only comes with resolve. We can't let the left or soft conservatives set the rules. We will need a Bukele to maintain order.

It's an immoral practice. Period. The money has to come from somewhere. No one owes anyone anything.... and money only has value because we say it does. When that breaks, you have nothing to offer... you're not personally producing... then there should be nothing you get out of the pot.

Are there structures whereby government could stop INCINERATING our money and feed it back into the system to make it productive and functional? Yes.... but that counts on leaders that actually sincerely care about the welfare of our people. That is an absurd folly to fall into.

Wealth is not a finite resource. It can be generated and created by the mind. Kill the mind, kill the generation.

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Thing is though, AI development is actually outpacing Moore's "Law." AI capability doubles every 3 to 6 months, instead of every 2 years. Within even 5 years from now AI is going to be so much further advanced than it is right now that what we see currently will look like Atari's Pong.

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A bit of pushback here, Moore's Law is expected to cease before the end of the decade & has been considerably more difficult to reach since the late 2000s. We're similarly starting to reach some of the limits with AI & seeing a pivot into different strategies.

AI also has more resources being thrown at it than anything short of WWII, if the bubble pops we'll likely see that investment & the corresponding pace of improvement decline.

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There is no possibility of a eutopian society where everybody has plenty, r at least thinks they have plenty. Some will always have more than others. In the US the. “poor” are often obese from consuming too many calories while having free housing, healthcare, groceries, etc. They also have free access to internet along with cell phones and big screen TV’s., yet they are “poor”.

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Poverty is unsolvable because it is categorized as the lowest economic rung based on certain percentages. There will always be a bottom percentage group no matter what.