Deric Cheng

And land is perhaps the most fundamental limited good.

There's only so much beachfront.

There's only so much desirable land within a city within five minutes of the job in the right location.

And so I'd imagine that land holds value very well.

and that you continue to see an acceleration of challenges such as housing becoming unaffordable.

Finally, I think that there are really interesting solutions when it comes to how you might respond to all of these changes when it comes to taxation, for example.

For

fellows for my convergence analysis fellowship have proposed a land value tax as something that is resilient and structured well to respond to an AI economy where if you tax land, it will inevitably capture more and more resources progressively from the owners of land from landlords.

And that might help to restabilize maybe significant changes to tax revenues when you start to see restructurings of the economy.

Yeah, I think a lot of the debate between maybe these establishment thinkers and the AI futurists that I've been talking about is really just about what timescale we're looking at and how soon we need to be responding to these things.

I think establishment, economists, policymakers, they're really thinking about near-term volatility, right?

Like what is going to happen if we quickly lose a lot of jobs in the short term?

What is going to happen if a lot of investment happens in certain areas and how do we best capture that?

Broadly, I think they see it as an acceleration of existing trends.

And so I would say even the traditional economists are very concerned about inequality, about the role of developing countries, about how to make the AI boom inclusive.

But certainly that just that their expectations about the radicalness or the size of these trends seem very different from those on the AI futurist or in Silicon Valley side.

But I do think they're, yeah.

And then on the AI futures and Silicon Valley side, I think people are largely just focusing on the end result.

And so that might be, it really depends on your timelines, but they're really focused on what do you do when the entire economy is entirely captured by AI?

What do you do when you need totally revolutionary structures like UBI for all?