Elon Musk says AI could make money irrelevant in 2036
Elon Musk says that in 2036, AI and robots might make so much stuff for us that money won't really matter anymore.
In a chat with The Economist, he wondered, "If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for?"
Basically, he sees a future where tech handles most production, and the old rules of the economy get flipped.
Elon Musk backs checks against deflation
Musk believes the biggest issue won't be inflation but deflation: things getting cheaper because there's just so much being made.
His fix? He suggests governments should simply send people checks to help out.
While the interviewer asked whether universal basic income or other safety nets might be needed if jobs disappear, Musk is focused on direct cash support.
Still, there are worries about how people will react if work changes this much, and whether politics can keep up with tech's pace.