Part 1/6:
Transforming the Economy: From Labor to Investment
The Economic Agency Paradox
The future of the economy is facing a critical paradox. As artificial intelligence (AI) and robotics become superior to humans in both cognitive and physical domains, the economic implications are inescapable. Machines will simply outperform humans at virtually every task, making automation the only economically rational choice.
This phenomenon, known as the "better, faster, cheaper, and safer" (a + b = c) principle, has been a topic of discussion for years. As the frontier of automation continues to expand, it takes more and more jobs away from humans. This leads to the economic agency paradox.