The error here is to assume an isolated development of one trend. If AI becomes as sophisticated as imagined, it will make most (if not all) other technologies evolve with it. When talking about manufacturing/production, better tech correlates to lower production costs, lower prices. If you still pay $500 for a mobile phone then, it is more a subject of brandwashing than economics. Same thing with services, medicines, food, etc. In sum: we'll need less money. If that money comes from universal min wage, or from working less hours, or from working more hours at lower wages, seems irrelevant next to this question: who will own AI?
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