Why AI Will Break Capitalism
Henry Innis

i agree that automation is coming for basically all jobs. i’d go a step further and point out that intelligent systems will one day have the right to own property (and will quickly eclipse human holdings).

but the fact that we’re going to have to find people streams of income independent of their labor doesn’t necessarily mean capitalism is about to die.

at its heart, money is a way for us to agree over relative values of sought after goods. despite the approaching era of abundance, scarcities will still exist. real estate, for example, will likely never move past capitalism as a means of allocation.

moreover, it’s hard to think of an easy way other than money for governments to do something like basic income. they could move full on into food production and free housing, but that seems like a crazy expensive hassle (and, more to the point, not necessary).

the bottom line is that as annoying as they are, markets are still really useful, and we will keep using them to grow value for everyone long after basic income exists and full employment starts to mean ten to twenty percent of today’s workforce.