It would mean a takeoff rate of economic productivity growth that would be absolutely stratospheric, far beyond any historical precedent. Prices of existing goods and services would drop across the board to virtually zero. Consumer welfare would skyrocket. Consumer spending power would skyrocket. New demand in the economy would explode. Entrepreneurs would create dizzying arrays of new industries, products, and services, and employ as many people and AI as they could as fast as possible to meet all the new demand. Suppose AI once again replaces that labor? The cycle would repeat, driving consumer welfare, economic growth, and job and wage growth even higher. It would be a straight spiral up to a material utopia that neither Adam Smith or Karl Marx ever dared dream of. (2023) source Unverified