Why the Capitalism economic model might be Dying and in the near Future, Dead!
I was raised in a capitalistic society and it was, and currently is, a great economic model but I have to wonder if it’s starting to die and will soon be dead.
AI killing capitalism?
The intelligent systems that are being created may very well be the death of the Capitalistic model, but in a good way… let me explain. If the companies and governments are providing intelligent systems via robotics and automation that provide free energy, food, transportation and possibly shelter, that would kill the concept of the “needs lacking” poor. The term poor is relative to others in a society, so to a degree, term poor could still exist in a society, but it wouldn’t be for lack of food, shelter or clothing or even other consumables.
If there exists autonomous “free” intelligent systems (like AI), then you have a complete intelligent ecosystem that could be society supporting. While it wouldn’t be free like perpetual energy, it could be a free perpetual ecosystem based off of autonomously operating intelligent systems that would freely provide needed resources for a society to exist, without human labor or even money.
Once the “autonomous AI systems” that provide basic needs are running smoothly, eventually other advanced, “higher layer” intelligent systems could be based off of it, providing lifestyle enhancements to society.
An example of such a system could be a augmented reality system that could exceed reality with “extra” stimulation or benefit. So it could be that such augmented reality systems could provide much, much more than reality could provide, Once the minds of those more creative than the rest of us start to create such virtual constructs within such a system, augmented reality could take forms unseen or at least beyond what we can imagine today. So perhaps the net effect would be to experience remote locations in virtual reality than actual exceed physical reality (like the removal of trash from the virtual reality, or no crime because your safe in a virtual app). To me this is a wild concept, but believable… look at what the effects of TV has been on society! I know people who come home from works and just watch TV until it’s time to go to bed and start the process over again the next day, week, month…
So if a society exists where everything is free (provided by the government, which of course will have to become more intelligent too, maybe even creating the rise of a sort of politics based on technology, like a Technocracy), and you have entertainment provided by free “entertainment or learning” intelligent systems, what is the worth of Capitalism? Especially if those governmental systems provide all the necessities of life for free (hello Star Trek money concept).
Technology implemented in a smart and ever improving way, could be the death of the Capitalistic model, because once free intelligent systems and subsystems exist, why work? Besides, what labor related jobs would be available anyway? Perhaps there could always be a need for art though, but most of the labor intensive jobs could be eliminated.
In closing, this would be a gradual, but accelerating journey, because overnight disruptions are often times harmful to society. So, perhaps we don’t have to worry as much about AI, intelligent robotics or other labor robbing technologies after all, at least if we as a society (or government) are smart about it. That said, we do have to worry about the weaponization of AI, intelligent robotics, drones and the like… But we can handle that too if we are smart! I’ll be back!
I would love to hear other thoughts around this!
Don