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The AI revolution will wake up the west to the realities of capitalism. Trump's spat with China over trade barriers is just one example of America coming to ter
by cutler 10y ago
The AI revolution will wake up the west to the realities of capitalism. Trump's spat with China over trade barriers is just one example of America coming to terms with the fact that capitalism has no sense of patriotism or morality. If the price (of labour) is right capitalists will do business with anyone. The capitalist philosophy, based on Adam Smith's "invisible hand" which mysteriously takes care of the common good, is a fallacy behind which the greed of the 1% masquerades as success. Capitalism's goal is to drive down the price of labour which it can only see as a cost. AI is the capitalist's dream, presenting for the first time the possibility of eliminating human labour altogether. There is only one question we must ask as a society - to whom will the capitalists of the AI age be accountable? Marx wrote about this endgame 150 years ago and of all the economists since then I'd say his analysis has been the most accurate.