2021 MooresLawforEverything
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- (Altman, 2021) ⇒ Sam Altman. (2021). “Moore's Law for Everything.” In: Blogpost. March 16, 2021 Journal.
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- Technological and Socioeconomic Shift: The rapid advancement of AI and software capable of thinking and learning will fundamentally alter the job market, displacing more roles from humans to machines. This shift will necessitate significant changes in public policy to prevent most people from being worse off economically.
- Redistribution through Taxation: To ensure fair distribution of wealth generated by technological advancements, the post advocates for taxing companies and land, the two assets likely to constitute most future value. This approach aims to enable equitable sharing of the prosperity AI and technology bring.
- Impact of AI on Costs and Jobs: AI's integration into the workforce is expected to drastically reduce the cost of goods and services by lowering labor costs, which could lead to a significant decrease in prices for various commodities. However, this technological progression also challenges employment and income distribution.
- Capitalism and Economic Inclusivity: The post argues for a version of capitalism that ensures growth and inclusivity, suggesting a shift from taxing labor to taxing capital. The idea is to make capitalism work for everyone by distributing a portion of the wealth generated by AI and technology directly to citizens.
- The American Equity Fund Proposal: Altman proposes the creation of the American Equity Fund, funded by taxes on company valuation and privately-held land. This fund would annually distribute its proceeds to all citizens, aiming to reduce poverty and increase economic self-determination and participation in societal gains.
- Implementation Challenges and Solutions: Addressing potential challenges in implementing such a system, the post discusses the need for a robust mechanism to assess and tax assets accurately without stifling economic growth. It emphasizes the importance of preventing system misuse and ensuring its sustainability.
- Vision for the Future: The overarching goal is to leverage technological advancements to create a society where wealth is more evenly distributed, and everyone can benefit from the progress AI brings. By planning and adapting policies accordingly, it is possible to forge a fairer, happier, and more prosperous future for all.
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| Author | volume | Date Value | title | type | journal | titleUrl | doi | note | year | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 MooresLawforEverything | Sam Altman (1985-) | Moore's Law for Everything | 2021 |