

AI can’t really generate wealth in the long run. Automation of all types generates temporary advantages in pricing, but other groups catch up eventually. This lowers the rate at which labor is exploited as a ratio of production, which lowers the actual source of profit. Absolute profits rise, while rates of profit fall.


For sure, automation represents an incredible opportunity for workers, presuming workers actually are the ones directing the development of society. It does reduce the inputs required to produce goods, which frees up time for redirection and reduction of labor overall. I was more trying to combat the idea that AI will be a magic bullet for capitalists, when really we’ve already seen the impacts of automation before. It comes in a new form, with new particularities, but it’s not fundamentally different.