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The article critiques Thomas Piketty's views on economic inequality, arguing that his historical perspective is flawed. It suggests that with advanced AI and automation, the traditional corrective mechanisms for income inequality may disappear, leading to greater wealth concentration among the rich unless strong progressive tax measures are implemented.
The article explores a scenario where AI automation leads to wealth concentration among the elite while diminishing the power of the masses. As incomes drop, governments may shift tax burdens and provide minimal UBI, resulting in a society with stagnant social mobility and increased disempowerment. The author suggests that democratizing AI access could be a potential solution to this impending divide.