Futurology

One of the age-old problems with markets is their tendency to renterism and monopolies if left unchecked. Now we have an added problem. Software, given ever-accelerating power by AI, may come to accelerate the capture of more and more of the economy to these forces.

This legal action is an attempt to address that, but is it enough? A recent economics paper points out that although renterism ( defined as the capture of scarce assets by groups who do nothing productive with them, and merely extract rents) is growing in Western economies, little is being done about it.

We seem to be heading for an economic reckoning with AI & robots and work and human jobs, maybe this issue will be dealt with then.