Elon Musk Envisions AI-Driven Abundance and Universal High Income

Tesla and SpaceX CEO Elon Musk predicts that AI and humanoid robots will produce so many goods and services that humans will run out of work. Speaking at an Abundance Summit panel with XPRIZE founder Peter Diamandis, he said the explosion in automation could make the economy hundreds or even thousands of times larger than it is today. Musk argues this abundance will force a rethink of income distribution. Rather than basic income, he foresees “universal high income” where governments simply issue money as AI output far outpaces demand. He also warned that such rapid growth could create deflation if the rate of production exceeds the growth of the money supply.

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