Who's done high quality work / can tell a convincing story about managing the economic transition to a world where machines can do every job better than humans?
Some common tropes and why I don't think they're good enough:
- "We've always managed in the past. Take the industrial revolution for example. People stop doing the work that's been automated and find new, usually better-compensated work to do." This is true, and I think it will probably be an important component of the transition. But it's clearly not sufficient if machines are better than humans at everything.
- "Tax AI (developers?) to pay for UBI." Again, something in this vein will probably be part of the solution. But:
- (a) UBI hasn't been well-tested.
- (b) I don't think the math works out if / when AI companies dominate the economy, since they'll capture more and more of the economy unless tax rates are high enough that everyone else receives more through UBI than they're paying the AI companies.
- (c) It doesn't have enough detail.
- Worldcoin. I think the idea is similar to the UBI story, but again it needs more detail.
Who has thought about this really deeply / well?
Note that for the purpose of this question, assume a world where alignment basically works (we can debate that question elsewhere).
I cannot say I've thought about it deep enough, but I've thought and written a bit about UBI, taxation/tax competition and so on. My imagination so far is:
A. Taxation & UBI would really be natural and workable, if we were choosing the right policies (though I have limited hope our policy making and modern democracy is up to the task, especially also with the international coordination required). Few subtleties that come to mind:
Risks include:
B. Specifically to your following point:
Imagine it's really at AI companies where the scarcity rents i.e. profits, occur (as mentioned, that's not at all clear): Imagine for simplicity all humans still want TVs and cars, maybe plus metaverses, and AI requires Nvidia cards. By scenario definition, AI produces everything, and as in this example we assume it's not the ores that earn the scarcity rents, and the AIs are powerful in producing stuff from raw earth, we don't explicitly track intermediate goods other than Nvidia cards the AIs produce too. Output be thus:
AI output = 100 TVs, 100 cars, 100 Nvidia cards, 100 digital metaverses, say in $bn.
Taxes = Profit tax = 50% (could instead call it income tax for AI owners; in reality would all be bit more complex, but overall doesn't matter much).
AI profit 300 ( = all output minus the Nividia cards)
People thus get $150bn; AI owners get $150bn as distributed AI profit after taxes
People consume 50 TVs, 50 cars, 50 digital metaverses
AI owners also consume 50 TVs, 50 cars, 50 digital metaverses
So you have a 'normal' circular economy that works. Not so normal, e.g. we have simplified for AI to require not only no labor but also no raw resources (or none with scarcity rent captured by somebody else). You can easily extend it to more complex cases.
In reality, of course, output will be adjusted, e.g. with different goods the rich like to consume instead of thousands of TVs per rich person, as happens already today in many forms; what the rich like to do with the wealth remains to be seen. Maybe fly around (real) space. Maybe get better metaverses. Or employ lots of machines to improve their body cells.
C. Btw, the "we'll just find other jobs" imho is indeed overrated, and I think the bias, esp. among economists, can be very easily explained when looking at history (where these economists had been spot on) yet realizing, that in future, machines will not anymore augment brains but replace them instead.