Termed the phrase “the Luddite fallacy” the thinking that innovation would have lasting harmful effects on employment.
The Luddites opposed injustice, not machines. They were “totally fine with machines”.
You might like Writings of the Luddites, edited and co-authored by Kevin Binfield.
"My idea of a perfect company is one guy who sits in a small room at a desk, and the only thing he's allowed to decide is what product to launch"
CEOs and board members salivate at the idea of them being the only people that get the profits from their company.
What will be of the rest of us who don't have access to capital? They only know that it's not their problem.
If it is that simple to create products more people can do it => cheaper the products.
A market driven by cheaper products that can also produce them easily is going into a price reduction loop until it reaches zero.
Thus I think something else wil happen with AI. Because what I described and what you describe is destroying the flow of capital which is the base of the economy.
Not sure what will happen. My bet (unfortunately) is on a really big mega corp that produces an AI that we all use.
Shareholders get the profits from corporations, not "CEOs and the board". Workers get wages. Nevertheless, US unemployment is very low right now and relatively low-paid workers are making more than they did in 2019.
