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The stock market is not the economy will never have felt more true. On paper it’ll look like there’s massive wealth per average citizen. However, every day life is going to be miserable if most of society just has UBI and nothing else to look forward to. The social issues we’re fighting about will pale in comparison to the turmoil caused by 0 economic mobility. There is no utopia at the end of the tunnel with mass unemployment via AI but offset by “infinite supply”. There is already abundance, it’s just hoarded by the .1%. We don’t need AI for that
What is UBI?
Generally seems good.
AI is starting to fuel productivity growth.
That means less people required to do the same work.
Some people will lose jobs because of this.
But there is a huge unmet desire for more goods and services. So these people will find new jobs quite easily if they are willing to learn new skills.
This is a positive thing for many people and means we will be more prosperous.
Pro
I hope so!
When I was first hearing the phrase "K-shaped economy" I thought it was dumb. I've come to accept that framing, as it does describe what's happening. If you're on the upward pointing leg of the K, things are going well. If you're on the downward pointing leg, you can be in a precarious state. Most of us are probably in reasonably good shape, but in society at large there are serious problems, most of which are going unaddressed.
Pro
Great point. I feel like I'm stuck in the middle. Things aren't going super well but they also aren't terrible. So I guess I'm technically on the upward line of the K but just barely haha
We are in the midst of an exciting new technological revolution in AI. Similar to the emergence of the internet, some jobs will be lost and new ones will be created. I am optimistic about the future, but I am also not naive enough to think that it will be smooth sailing for the economy, especially with elevated geopolitical risks.
Pro
Great points. So much goes into predicting the future which is why 99% of us are never able to 😂
It's honestly hard not to feel like a bit of a doomer when it comes to the future, and not just economically. If I had a crystal ball, I would ask it what's going to happen with AI. I think that's going to be a huge indicator of the future.
Pro
Exactly. Like will data centers suck up all our drinkable water in the west? Who knows
Rising Star
I feel this too. If I had a crystal ball, I don’t think it’s full steam ahead or doomsday, more like choppy and uneven. Some areas will keep moving forward while others pull back, so it’ll probably feel sideways overall unless you’re in the right pocket at the right time.
Pro
Great analysis, I think this summarizes my own position as well.