Comment by L Rudolf L

I've heard many people say something like "money won't matter post-AGI". This has always struck me as odd, and as most likely completely incorrect. First: labour means human mental and physical effort that produces something of value. Capital goods are things like factories, data centres, and software—things humans have built that are used in the production of goods and services. [...] The key economic effect of AI is that it makes capital a more and more general substitute for labour. There's less need to pay humans for their time to perform work, because you can replace that with capital (e.g. data centres running software replaces a human doing mental labour). [...] Overall, this points to a neglected downside of transformative AI: that society might become permanently static, and that current power imbalances might be amplified and then turned immutable.