Capital and Labor have always had a tense relationship, each one uneasy about the necessity of depending on the other. Unfortunately, Capital’s acquisition of power in the modern Western world has not been accompanied by a commensurate acquisition of confidence. In fact, as Capital’s power has increased, so has its sense of its precarity, becoming so acute as to tip over into paranoia. The moment AI achieved the barest shred of plausibility in its promise to replace Labor, it became an article of faith that Capital feverishly believes in and aggressively acts on.
All of this is to say that we have a case of “the market can stay irrational longer than you can stay solvent” on steroids; Capital is going to fight like its life depends on it to stay irrationally convinced in their belief that AI can replace Labor.
All of this is to say that we have a case of “the market can stay irrational longer than you can stay solvent” on steroids; Capital is going to fight like its life depends on it to stay irrationally convinced in their belief that AI can replace Labor.