One important fundamental difference in value between a diamond ring and an armful of kindling is man-hours, one takes a lot more to make than the other. But it’s conceivable, one day, with sufficient advances in hardware and software, that man-hours will be rendered moot. Which would mean money as we know would cease to matter and that sounds great to those of who don’t have much. But there could necessarily be a phase along the way that might not be so appealing:
But a funny thing is going to happen when the machines start taking the jobs of doctors, lawyers, stockbrokers, managers and professors. We’re not quite there yet, but the day is coming very soon when many of what had traditionally been considered untouchable jobs will be done just as effectively or better by machines. .. When the machines and the Internet start taking the white collar jobs, look for a moral panic and rethinking of the capitalist bargain that should have started 30 years ago, but didn’t because blue collar workers have no political power.
I imagine two things might happen: Many of those displaced white-collar workers will suddenly discover that social safety nets, food and housing assistance, and unemployment payments matter after all, and many politicians paid by the owners of profitable AI run corporations will just as suddenly discover their conservative leaning white-collar suburbanite base was a bunch of lazy, socialist, commie leeches. That’s one possible version of the approaching singularity anyway. Another is the AIs might not have anything against us per se, they just might see humans and our artifacts as made of atoms that could be recycled to make something way more useful in a new world order of machine axioms: the opposite of love or respect is not hate or contempt, it’s indifference.