The Next Technology Revolution Will Drive Abundance And Income Disparity

Machine learning impact on the economy will be increased productivity and abundance, but far less human labour and judgement. We may need a system focused on more than just efficient production that places greater prioritization on the less desirable side effects of capitalism.

Notes

• Historically, technology augmented and amplified human capability, which increased the productivity of human labor.
  • if ML become superior in intelligence and job skill then humans less needed
• if ML can outperform humans even with retraining?
  • RK: unlikely to find single intelligence outperforming multiple intelligence, at least until human simulation
  • the top 10-20% of humans in the profession remain employed
• hopefully deflationarty pressures increase the purchasing power
• income redistribution may be required but should be a last resort