Readit NewsFor an example of what unlimited borrowing and money printing results in, look up Germany in 1921--1923
If we took Elon Musk's money away and simply burnt it, that would still be a net win for society as a whole.
Why would taking scarce resources away from productive businesses and allocating to unproductive things be good for anyone other than government bureaucrats?
The purpose of a system is what it does.
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> This strikes me as paradoxical given my sense that one of AI’s main impacts will be to increase productivity and thus eliminate jobs.
The allegation that an "Increase of productivity will reduce jobs" has been proven false by history over and over again it's so well known it has a name, "Jevons Paradox" or "Jevons Effect"[0].
> In economics, the Jevons paradox (sometimes Jevons effect) occurs when technological advancements make a resource more efficient to use [...] results in overall demand increasing, causing total resource consumption to rise.
The "increase in productivity" does not inherently result in less jobs, that's a false equivalence. It's likely just as false as it was in 1915 with the the assembly line and the Model T as it is in 2025 with AI and ChatGPT. This notion persists because as we go through inflection points due to something new changing up market dynamics, there is often a GROSS loss (as in economics) of jobs that often precipitates a NET gain overall as the market adapts, but that's not much comfort to people that lost or are worried about losing their jobs due to that inflection point changing the market.
The two important questions in that context for individuals in the job market during those inflections points (like today) are: "how difficult is it to adapt (to either not lose a job, or to benefit from or be a part of that net gain)?" and "Should you adapt?" Afterall, the skillsets that the market demands and the skillsets it supplies are not objectively quantifiable things; the presence of speculative markets is proof that this is subjective, not objective. Anyone who's ever been involved in the hiring process knows just how subjective this is. Which leads me to:
> the promise is about replacing human creativity with artificial creativity which.. is certainly new and unwelcome.
Disagree that that's what the promise about. That IS happening, I don't disagree there, but that's not the promise that corporate is so hyped about. If we're being honest and not trying to blow smoke up people's ass to artificially inflate "value," AI is fundamentally about being more OBJECTIVE than SUBJECTIVE with regard to costs and resources of labor, and it's outputs. Anyone who knows what OKR's are and has been subject to a "performance review" in a self professed "Data driven company" knows how much modern corporate America, especially the tech market, loves it's "quantifiables." It's less about how much better it can allegedly do something, but the promise of how much "better" it can be quantified vs human labor. As long as AI has at least SOME proven utility (which it does), this promise of quantifiables combined with it's other inherent potential benefits (Doesn't need time off, doesn't sleep, doesn't need retirement/health benefits, no overtime pay, no regulatory limitations on hours worked, no "minimum wage") means that so long as the monied interests perceive it as continuing to improve, then they can dismiss it's inefficiencies/ineffectiveness in X or Y by the promise of it's potential to overcome that eventually.
It's the fundamental reason why people are so concerned about AI replacing Humans. Especially when you consider one of the things that AI excels at is quickly delivering an answer with confidence (people are impressed with speed and a sucker for confidence), and another big strength is it's ability to deal with repetitive minutia in known and solved problem spaces(a mainstay of many office jobs). It can also bullshit with best of them, fluff your ego as much as you want (and even when you don't), and almost never says "No" or "You're wrong" unless you ask it to.
In other words, it excels at the performative and repetitive bullshit and blowing smoke up your boss' ass and empowers them to do the same for their boss further up the chain, all while never once ruffling HR's feathers.
Again, it has other, much more practical and pragmatic utility too, it's not JUST a bullshit oracle, but it IS a good bullshit oracle if you want it to be.
Maybe post renaissance many artists no longer had patrons, but nothing was stopping them from painting.
If your industry truely is going in the direction where there's no paid work for you to code (which is unlikely in my opinion), nobody is stopping you. It's easier than ever, you have decades of personal computing at your fingertips.
Most people with a thing they love do it as a hobby, not a job. Maybe you've had it good for a long time?
There are of course exceptions; I can recall not long ago for example buying a pound of Himalayan sea salt for a dollar. That was a solid deal, and I haven’t seen it since.
But generally speaking, if you want to save money, don’t go to Dollar Tree.
Until you understand how something that counter intuitive happened, you should not speculate on how AI replacing current jobs will play out!