The post argues that automation and AI are unlikely to cause a sustained economic crisis, as new jobs will be created to replace those automated, though the benefits may primarily go to capital owners.
Longer summary
This post discusses the potential economic impact of automation and AI, addressing concerns about job displacement and economic crisis. The authors argue that while automation will continue to change the job market, it is unlikely to lead to a sustained economic crisis in the foreseeable future. They examine historical trends in employment, current technological capabilities, and economic theories to support their argument. The post concludes that new jobs will continue to be created as old ones are automated, maintaining overall employment levels, though the benefits of automation may flow primarily to capital owners.
Shorter summary