Scott Alexander speculates on a future 'ascended economy' where AI-run corporations dominate, discussing potential implications and risks of such a system. Longer summary

This post explores the concept of an 'ascended economy', where economic activity becomes increasingly detached from human control. Scott Alexander speculates on a future where corporations are run by algorithms, workers are replaced by robots, and even investment decisions are made by AI. He discusses the potential implications of such a system, including the formation of self-sustaining economic loops that don't involve humans, the difficulty of regulating AI-run corporations, and the risks of goal misalignment in superintelligent economic entities. While acknowledging that this scenario is highly speculative and unlikely to occur exactly as described, Scott uses it to explore important questions about AI safety, economic evolution, and the long-term consequences of automation. Shorter summary