It’s a brilliant good read by the brilliant Tim O’Reilly: “The narrative from the AI labs is dazzling: build AGI, unlock astonishing productivity, and watch GDP surge. It’s a compelling story, especially if you’re the one building or investing in the new thought machines. But it skips the part that makes an economy an economy: circulation.
An economy is not simply production. It is production matched to demand, and demand requires broadly distributed purchasing power. When we forget that, we rediscover an old truth the hard way: You can’t build a prosperous society that leaves most people on the sidelines.“
Read the full article—it’s worth it:
