Profit could be defined differently than just money. If I can use tools to make more food easier and faster, so my village can eat and better prepare for famine, is that profit?
If so, AI efficiency gains would mean we would need to employ fewer people to keep outputs the same. This could mean more unemployment or more companies doing different things, likely overlapping causing competition but potentially more waste.
Hammers, along with wheels, fabrics and ceramics, predate the notion of profit by thousands of years
What do you mean‽ Surely the only way new inventions can ever come about is with a profit incentive!
If what you suggest is true, it would make capitalism unnecessary for technological progress! Sacrilege!
Profit could be defined differently than just money. If I can use tools to make more food easier and faster, so my village can eat and better prepare for famine, is that profit?
If so, AI efficiency gains would mean we would need to employ fewer people to keep outputs the same. This could mean more unemployment or more companies doing different things, likely overlapping causing competition but potentially more waste.
Surplus is not profit.