Honestly I think Bernie is discussing a real problem that needs solving. When AI robotics is producing 99.9% of economic value, which may be in just a few decades, it will create unprecedented concentration of wealth and power and that will create unprecedented social issues. Can democracy even function then?
But I am sure it would only make the problem worse — far, far worse — if we put the political class, wherein party bosses wield power in back room deals, in charge of a sovereign wealth fund that holds 50% of the equity of the entire economy. I would much rather have 10,000 business people competing for that power in the open than a half dozen party bosses behind closed doors.
However, we do need to prevent monopolies and trusts, IMHO, and make other changes that are TBD. That’s my 2 cents.
I will soon be introducing a bill to give the public a 50% ownership stake in the largest AI companies in America.
This would guarantee that the trillions created by AI are used to improve the lives of all of us — and block oligarch decisions that harm the American people.