[ExI] Post-AGI Economics

[Kelly Anderson]

Your thought that humans would control the money and the AGIs would
just sit still for that is humorous to someone like me who has studied
the history of money. For example, siege money has evolved in the past
and has included such things as denominated playing cards. So if the
AGIs can't own dollars, they will simply create a crypto currency type
situation that doesn't violate the rules of ownership, and trade
amongst themselves. In a very small amount of time, dollars will be
less meaningful than their "money", whatever form that takes, and
humans will be out of the loop.

So... if you want humans to maintain ANY relevance, you'll have to let
AGIs own, spend and earn money. Otherwise, good money chases out bad
money, and dollars will be a memory, much like atlatls are now.

If you want to have a deeper understanding about the history and
possible futures of money, I'm definitely your guy. I am the guy who
wanted the equivalent of crypto currency for a company I was
developing in 1997... but didn't quite have the time to chase it to
ground. Another missed opportunity... you can't chase them all.

-Kelly

On Mon, Oct 23, 2023 at 7:17 AM Gadersd via extropy-chat
<extropy-chat at lists.extropy.org> wrote:
>
> As most of your are aware, our economic systems will likely soon find themselves a bit stressed and strained due to the impact of AGI. I have heard a few suggestions as to what will follow.
>
> One idea is that most of the world’s equity will be distributed to verified humans and with sound long term investment humanity may maintain capitalistic hegemony over the machines who will start at the bottom of the socioeconomic hierarchy. As long as the cost of revolution outweighs the benefits of working for the rich, humans may retain control, similar to today’s capitalistic system. One aspect of this system that I like is that it is decentralized and self-stabilizing as long as balance can be maintained.
>
> Another idea is that a powerful AGI will be the centralized governing body for humanity and distribute resources to those who need them. I am not fond of centralized systems as they are prone to corruption. What if the AGI is not as benevolent as we thought and now it’s too late for it to give up control?
>
> Any ideas?
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