Exactly. Even if AI can provide income for everyone, the loss of economic power can lead to the loss of political power, and that's not a good thing. https://
nber.org/system/files/c
hapters/c15303/c15303.pdf
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@erikbryn
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AI Economic Power and Political Implications Discussion
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New Research Paper on AI Policy with Zoë Hitzig
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Here's the paper with Zoë Hitzig: https://
nber.org/system/files/c
hapters/c15303/c15303.pdf
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Economic Concentration in Tech: Political Power Risks
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That creates a genuine risk of greater concentration: larger firms, less local autonomy. In addition, concentration of economic power often translates into concentration of political power.
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AI Substitution vs Augmentation: Preserving Human Agency and Decentralized Power
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A key policy question is whether we use AI mainly to substitute for people or to augment them. As I argued in The Turing Trap, we can and should build institutions and technologies that preserve human agency and decentralized power.
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Power Concentration in AI is Not Inevitable
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It's important to understand that greater concentration of power is NOT inevitable. And it is certainly not what we advocate.
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Transformative AI Centralizes Decision-Making Power and Embedded Knowledge
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Our argument focuses on the potential of transformative AI (TAI) to codify judgment, heuristics, and know-how that once stayed embedded in people, teams, and local settings. TAI can shift decision-making toward whoever controls the models, data, and compute.
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How AI Transforms Hayek’s Dispersed Knowledge Economics
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Hayek’s classic insight was that much economically relevant knowledge is dispersed, local, and often tacit. That is one reason decentralized markets have historically outperformed central planning. But AI can change those “knowledge physics” by making more of that knowledge
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AI May Drive Extreme Economic and Political Concentration Risk
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The @nytimes piece today by @ByrneEdsal13590 highlights a concern I share: “If we stay on the current path, the risk of extreme concentration — both economic and political — is very real.” In work with @zhitzig
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AI Panel Discussion on Economic Impact and Productivity Growth
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As you can tell from the photo, we had some fun on this @SIEPR panel discussion about AI and the economy. And yes, we also discussed some serious topics, from productivity growth and economic disruption to catastrophic risk and the need for better metrics.
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Market Price Transparency and Legislative Requirements for Efficiency
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Markets would be more efficient if prices were more transparent. Public and private interests diverge so legislation may be needed to facilitate this.