Hey!
Check this study (published 27th March).
GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models

2303.10130.pdf (arxiv.org)

People who think AI will not be very impactful on the economy and job safety are more than welcome to try to refute this work.

A lot of articles said that some fields will be more than 56% and sometimes 80% impacted and we are not even talking about GPT-5, nor the full potential of GPT-4

Reminds me how Thomas Edison got started, his first invention that made big money was the stock ticker tape. Information is key for any investment decision, now and then.

An AI that gets enough data input on wages/compensation could recommend any worker a different job or carrer according to the individual talent and situation.

Match the individual person, his/her education, work history, character against all opportunities out there.

I think the one disadvantage workers suffer from is lack of information what is out there. Stock brokers paid huge dollars for the stock ticker tape for thry got informed in real time about all their options.

All workers should have something similar, an AI app that gets them the best job possible for the highest pay.

1. Companies have open portals for public surveys
2. They post surveys about topics that are not subject to trademarks and trade secrets
3. Random people give ideas
4. Best ideas get those people hired

Does it exist? If not why?

Over the past 5 years we can notice aggressive planned obsolescence applied across pretty much all products. From an all-sealed non-repairable designs to software limitations it's visible even to the non-technical users.

We can differentiate two product cycles. Premium products with no planned obsolescence - higher price, less frequent change of device. Mainstream products - designed to be replaced frequently, lower price.

Ideas

1. Initial price as low as mainstream. Users pay a fixed additional fee for each functioning year of the product thus reaching premium price if the products lasts longer.
2. A marketplace where only products with no planned obsolescence are sold based on the above model

Would you switch to such a purchasing model as a user?

Would you switch to such a production model as a company?

According to https://realtimeinequality.org which shows growth in incomes and wealth by different quintiles since Jan 2000 to Dec 2022, the bottom 50th percentile has seen a only 1.7% real growth income.

• As issues such as wealth and income mobility arise and intergenerational mobility in the US worsens what will happen?
• If this keeps happening will we return to an aristocracy of sorts?
• Is inequality likely to keep worsening in the United States?

Edit:

No·bil·i·ty

- The group of people belonging to the noble class in a country, especially those with a hereditary or honorary title. Belonging to a hereditary class with high social or political status; aristocratic.

So I might've used the wrong word but the American Nobility who have money, status, power and education have much more mobility in almost all the senses of the word.

Not necessarily whether we're a nation ruled by a select few who can hold office but whether or not we're a nation wherein primarily the nobility have mobility, power, status and influence.

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It seems to me that the winners of the future will try guarantee the majority of their population is living in conditions in which they can participate in driving the innovation we care about as a society - things that improve health, expand knowledge, or increase safety.

From what we know about the effects of poverty, this would require guaranteed survival (housing, food, energy, transport, etc.) and big investments in education. Maslow logic applied as a school of economics.

I've seen these arguments made re morality and outcomes (socialism), but. not necessarily to optimize for private sector innovation and national strength. Considering how deeply embedded neoliberalism is (and fear of communism), this seems like a narrative that's more likely to be embraced than the straight froward argument for socialism and could get us similar outcomes.

That said, I'm not DEEP into alt economics, so wondering what is out there on this. Thanks!

We've all heard the fears of an aging population putting stress on the less populous generation below it to support them.

But in a world where housing, energy, ag, transportation, and other needs are largely produced and distributed via automated technological infrastructure - the human capital required to service that infrastructure would be (relatively) minimal.

Thoughts?