Does AI Mark the End of Capitalism?

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💥Join us on our Journey to 1 Million Subscribers💥 What does the rapid increase of artificial intelligence mean for capitalism? In this clip, Aaron Bastani explores the disappearing distinction between capital and labour, and delves into the inevitable repercussions of automation replacing all human tasks.

Aaron Bastani is a British journalist and writer. He co-founded the left-wing media organisation Novara Media in 2011, and has hosted and co-hosted many of its podcasts and videos. He has written for The Guardian, London Review of Books, UnHerd and Vice, and is the author of Fully Automated Luxury Communism (2019) the title for which is a term coined by Bastani which refers to a post-capitalist society in which automation greatly reduces the amount of labour humans need to do.

#politics #interview #podcast

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How can one say so much without saying anything?

carefir

Capitalism has long been dead in the USA, the two/uni-party system has been doing perfect trades for decades. Both parties are in bed with the corps working hard for the great reset.

krom

When A.I. gets a 130+ I.Q. score on an untimed, unsupervised test, I'll become concerned.

Ejexion

I think Aaron Bastani sidesteps the real problem with his final answer (he goes on about health care) The real problem - I think - is as automation gets more and more, less and less work around, more people unemployed, profit margins (so wages and bonuses) going through the roof for business owners/CEO's?MD's/share holders... Wages will fall because less jobs available, more workers (So I disagree with Aaron on this point: Less jobs, more workers available = employee's market so lower wages) - and, at some point in time, this is going to break. Now if this goes the way it's going at the moment (See America lobbying) government is going to back big business while trying to sedate the population, keeping the dole payments as low as possible. This in turn is going to see workers and unemployed not being able to afford the goods (Aaron addresses this in the beginning of the piece) but the real question is: How bad is it going to get for the work force and the unemployed before business' and governments finally relent? I think, personally, that big business and governments are going to push this to the n'th degree before they relent. And the final real big bug bear in the room? War. How much automated war are we going to see before we stop? And, once again, war makes money so that's going to be a problem. I do feel the population of the world will be left with a very bad taste in their mouths at the mention of capitalism because I feel the greed side of capitalism is going to be stark naked front line and center before it goes down. Finally, we're going to have the big C. I don't think so. And I don't know what we're going to have but not the big C. Why? Reality. Reality always gets in the way. Here's a simple example: How many people would like to live in a holiday home, overlooking the sea now that no-one works? How many of such homes exist? And we go straight back into over demand, too little supply - if we do say it still costs money and you've got to save it we're back to drugs, theft, murder, black market, hookers... blah, blah, blah... Then to: Are we going to have thousands of plumber/electrician/builder robots running around? Or is there going to be a waiting list? To which the answer is: "Well I've got this mate you see, I'll tell him I know you so he'll give you mate rates..." I've just got this feeling we'll end up with what's going on with the unemployed today. Dole money and then cash in hand. So the AI economy and the human economy. But first the AI economy has to come into existence and I feel capitalism is not going to go down without a serious fight.

trashman

Within 50 to 100 years!??? NO. It's 4-10 years. Look at the rate of AI improvement. Look at exponential curves. We've literally hit the singularity and this guy says fully automated in 50? GET OUT OF HERE. I give it 4 more years.

lucylightbringer

There is no separate capitalism, socialism, or communism. It is all on the spectrum of the liberty to keep and use your earnings to participate in markets and enterprises to generate wealth for yourself.

Laissez Fair capitalism - the most people have the liberty to work, save and use their earning to generate wealth for themselves.

Intervention/government regulation/licensing - government officials set rules as to who can do certain work or make it expensive to get started, so fewer people can exercise their liberty to generate wealth for themselves.

socialism - even more limitations by officeholders on who can exercise the liberty
crony socialism - when the "friends" of the office holders are permitted more liberty than others

communism - socialism of the form, total bureaucratic control and limitation of who can exercise the liberty to generate wealth for themselves to distinguished holders of important offices and their cronies.

feudalism - crony socialism on a familial basis
BTW, soviet communism and now the CCP after a couple generations started/is starting to look a lot like familial-based crony soclalism

In the world he envisions, those owning the automation will have the liberty to keep and use their earnings, those who do not will live or die based on their usefulness to those who control the production. Feudalism, which Silicon Valley elite are already promoting especially in California.

In the post capitalism world, who will support the podcaster, the writer, writing was a liberal art in the pre-capitalist world, a hobby, indulged by those with other income, such as landowners and soldiers, or with a patron.

Those who know robot repair will be well compensated.

jkbrown

In the future the guy who gets the most women will be the one who owns the most robots 🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖🤖

bobbobson

Weren't we told that automation will eliminate jobs? Does did that mean? We did not have to work and will be provided for?

sundown

Geezus, this guy talks a lot without saying anything objective! Marxism fried his brain.

flavioc

AI generates content.
AI summarizes other's content.
AI suggests ideas for new content.
... Soon, everything becomes AI, all the way down ... An exponentially growing feedback loop, because future AIs MUST increasingly be trained on past AI-generated content, as nobody can weed it out.

Result:
AI talking to AI, about what AI generated, in response to AI input, based on AI generated training-data.
Humanity becomes an appendix, subject to AIs unknown, but alien thought patterns, preferences and biases.

This is a self-feeding doomsday machine, that can't be stopped.

ZappyOh

Capitalism continues to spread and grow through increasing world automation

JustinK

People that say that automation will free people keep forgetting that those that lose their jobs do not own those machines and those that do own them are not interested in giving the unemployed handouts.

michaelpettersson

Well I can just knock out a podcast in the style of Triggernometry by asking chat GPT even if I have to wait until version 5 or 6. And when you look at what the US Screen Actors Guild are scared of then you boys had better be scared!

BernieTheBoxer

Didn't karl marx said the same thing regarding industrial revolution ?

vslo

The amount of mental gymnastics to justify capitalism in an ai automotive society is ridiculous. The attempt at justifying capitalism, even though this process is absurd, has a psychological term in the form of cognitive dissonance.
Owning products produced by an automated ai production system, isn't crazy.
Owning the means of production of an automated ai system, and expecting those without capital to compete within that system is.

arandmorgan