Comment by zeahfj

It only destroys imagined wealth and not actual wealth (more useful stuff is created). In the current system the new wealth creation is skewed to the already wealthy, hence why the majority will see a decline in living standard and the feeling of the destruction of the economy. However wealth disparities takes money to maintain, and it is inefficient. It requires taxpayer subsidies to be maintained. If the wealthy had to pay the unsubsidized cost of the police, legal system, and foreign wars to protect their investments they would stop being wealthy very quickly. So it's not AI or robots that will destroy the economy it's high income taxes and low capital taxes.