Problem is AI can not fix my leaking faucet at home, or repair my wind damaged roof. I tried using AI to raise my puppy dog, but it gave me solutions which did not work.
The theory is that in several years, AI will replace so much labor that consumer demand will contract from lack of wages.
In order to prevent a Great Depression, central banks will have no choice but to replace lost wages with basic minimum income - just send everyone giant stimulus checks.
Meanwhile, the prices of labor-intensive products and services will crash, flooding the markets with cheap goods and services.
You’ll have plenty of cash to spend on fixing leaky facets - but I think you’re wrong about AI not fixing leaky faucets.. I haven’t called a plumber in years thanks to internet search and YouTube videos and ordering cheap parts on Amazon - AI is already speeding up that process for all sorts of repair projects - and putting plumbers out of work.