Post by @gimulnautti@mastodon.green

2026-09-07 08:02 UTC

Post-Keynesian economist Steve Keen shows how the #AIBubble is related to all the previous overinvestment bubbles. He’s got the models and the math to prove it, and it’s easy to follow. But most importantly, he then goes and models also the hypothetical post-AGI market with huge job losses. Keen shows, that if the tech bros keep insisting on current #Neoliberal models without #UBI funded by a government deficit, we might end up in a Hunger Games world. https://youtube.com/watch?v=TD3FB9NkwSQ #economics

Replies (2)

@david_chisnall@infosec.exchange 2026-09-07 08:53

@gimulnautti@mastodon.green But most importantly, he then goes and models also the hypothetical post-AGI market with huge job losses. I don't click on YouTube links, but this bit makes me sad. It's not just 'hypothetical', it's science fiction. Talking about the economic impacts of antigravity, cold fusion, or room-temperature superconductors would make as much sense, and connecting discussions of an investment bubble built on outright lies by discussing what would happen if those lies were actually true undermines the message.

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@enobacon@urbanists.social 2026-09-07 08:55

@gimulnautti@mastodon.green the premise that LLMs can replace labor rests on the assumption that quality of product or service doesn't matter and capital will still profit. It's false, but that won't stop them from wrecking the economy to find out. The question again is whether we all pitch in to prop up the fallen idol of capitalism yet one more time, and buy a bunch of used gaming PCs for too much money.

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