cross-posted from: https://lemmy.dbzer0.com/post/74936481
… as hundreds of billions of dollars are flooding into artificial intelligence, there are serious concerns that an AI bubble could trigger another bailout with taxpayer money.
In the interview that follows, leading progressive economist Gerald Epstein, who initiated and directs the Game Changers project at the Political Economy Research Institute at the University of Massachusetts Amherst, talks about AI’s impact on finance and the bailout problem and how a transformative public finance strategy can revive democracy, promote equity and social justice, and build strong and sustainable communities.
I was literally told at work today by executives "If the AI bubble pops, it will be more like the automotive industry financial crisis. "
Wasnt that the one where Ford, GM and Chevrolet were deemed too big to fail?
Privatize the profits, socialize the losses. Such is the capitalist way.
We 100% will be. At least for certain companies. The investment int AI is hype for sure, but a decent chunk is for fascism. Surveillance, information control, mass manipulation, etc…
The Trump regime will absolutely bail out key players to use them for control.
Too late for that.
They’re tied up in 401ks now. People will hear they’re set to lose as well and lose their shit.
better to destroy that now than later when it’s worse
Oh, you sweet summer child…
There’s already worse conspiracy theories: let the economy crash and blame it on rogue AI to get the government out of debt while the rich move the assets somewhere else. A bailout is just the beginning.
