Abstract
This paper develops a model of Artificial Intelligence technology as an object in order to form an assessment of the future of labour, the future of production, and the future of the distribution of income, as well as policy responses which may ensure the liberty of individuals to live such a life as they deem fulfilling. The nature of modern Artificial Intelligence technology incorporating Machine Learning is considered to develop a model of Artificial Intelligence Machine Learning as an object which may be placed within a model of the economic system as a whole. This is then done. We find that in principle, Artificial Intelligence Machine Learning will replace all routine human labour. We find, further, that in principle, Artificial Intelligence Machine Learning creates an economy subject to production technology with massive scaling capability. We find, finally, that Artificial Intelligence Machine Learning facilitates a winner-take-all dynamic in the distribution of income where income resembles “rents” rather than remuneration for labour expenditure. We find that the liberty of individuals to live such a life as they deem fulfilling may be maintained by education policy which promotes the learning of generalised rather than specialised knowledge.
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