Re: Displaced workers @David Dawson
Strange understanding of economies here. I don't recognise the world you paint as reality.
Frankly, it's an 'employee' mindset, where you believe the forces of the economy are run for abstract concepts like 'the company', or 'the state'. Not recognising that both of those things are simply convenient labels on groups of people. They are fictional. This is one of the reasons why macroeconomics is essentially guess work, you are attempting to generate a model that describes trillions of human interactions.
The idea that the entirety of the human involvement in the economy could be replaced with an AI is completely fanciful, as it completely misrepresents what that economic activity is for. It doesn't exist for it's own benefit, ultimately there are owners of all companies which are people.
Whether it's pension funds, 'the state', individuals, via other companies. It simply doesn't matter, people own everything. The fact that you feel somewhat powerless when faced with the economy doesn't change this.
So, in any new economy, that wouldn't change unless we give AI ownership rights.
Everything flows from that.
Unless your hyper intelligent AI can displace us as the owners of stuff, the economy will always be run for the benefit of humanity, either in whole or in part.
Before modern economies formed, everyone had to make their own economic activity just to eat. If push comes to shove, that will happen again. AI's may be able to do all jobs, but would they actually do that?
What would really happen is that humans, the drivers and consumers of all economic activity, would be shoved higher up the value chain. Some people won't make it, but the majority of us will. Look around London right now, the population has moved away from mass manufacture into mostly knowledge work. (outside of London, it's more weighted towards light manufacture).
We've had huge automation, really, massive. This should be seen as part of the great industrialisation move. If this didn't happen, we would still, for the most part, be doing subsistence agriculture. That's not a good life.
So, bring on these magical AIs, they will not have the effect you believe they will.