"Massive Economic Abundance: Because AI will exponentially grow the total economic pie, overall resource scarcity will diminish. The fundamental challenge shifts from producing wealth to distributing wealth."
So how do we go from everyone out of work, no income to spend on food, or the goods and services that the AI is producing, to "massive economic abundance"?!
It's like the meme:
Step 1: Create AI
Step 2: AI takes all the jobs
Step 3: ???
Step 4: Profit! (massive economic abundance)
What is step 3?
"Massive Economic Abundance" implies massive increase in produced goods. This implies massive deflation, ceteris paribus. So step 3 could be simply printing money to pay for UBI. Deflation from AI productivity increase and inflation from UBI money printing will cancel out.
For money to work it has to represent some real value, something that has some scarcity to it such as potatoes or hours of human labor. Ultimately it is just a decoupler in a barter system, a universally recognized IOU.
Why would someone give me a car in exchange for UBI-scrip when that UBI-scrip has no inherent scarcity or value and can be produced in infinite supply by the government ?