LFP 129: Ted Shelton - Post-labour economics and the future of capitalism

This episode continues our investigation into the potential wide-ranging implications of advanced AI for economics. Traditionally, value is said to be created by a combination of capital, which covers the cost of materials and equipment, and labour, whereby humans exercise skills, ingenuity, diligence, attention, and more. What has been a constant debate is the appropriate division of rewards between capital and labour. Critics of the operation of capitalism have often predicted that an accum...