It is impossible for any of us to fully exploit the utilities of our consumption; therefore, there are several ways to sell some utilities to others in order to further exploit the utilities of our consumption. Uber is a classic example that when people cannot fully exploit the utilities of their cars, they use their free time to use their cars for the use of other people. However, this is not an effective way to improve the efficiency of exploiting utilities. This is because when people are trying to further exploit the utilities of their consumption, they have to add extra resources to it. For example, in the case of Uber, although people do not fully exploit the utilities of their cars, if they want to use their cars to earn extra incomes by being Uber drivers, they have to spend their individual time on driving their cars and the extra resource here is people's individual free time. Therefore, since the foundation of Uber, there have been some professional Uber drivers, and Uber becomes a new type of taxi company with a modern information concept instead of a company allowing people to share their cars when their cars are not in use. Here, we can see the best way to solve the problem is to make cars driverless, so people can share their cars when they do not need to use their cars and do not have to spend extra resources.
I think this may be a concept for the future AI development that people can use AI to reduce the costs of using resources. As we can see from the Uber example that people have to spend extra resources to share or sell or even use their products. Without time, we are not able to exploit any utilities; in some cases, we even have to use other resources for exploiting the utilities of our consumption. This may lead to more inefficiency of use of resources, at least this is not effectively to improve the efficiency of our use of resources. There are many types of resources: human (time, quality of time), land (including natural resources), capitals. I exclude enterprise from my factors of production, as I think that enterprise is part of human resources, human resources involve labor as well as enterprise. Once we can save more resources, it means we may have more free time to spend, more resources available to us, and more available capitals.
Some people believe once AI can take many jobs from us, human beings, and lead to an increase in the unemployment rate. This is not good for ordinary people, but it is not good for capitalists either. Since the majority of the entire consumption power comes from ordinary people, when the employment rate drops, consumption will drop as well and the capitalists will be hurt. Therefore, we have to figure out a way to use the freed resources to create more wealth. In the mean time, as many of our societies are entering the aging population, it means more wealth need to created to pay for the pensions. Moreover, since the technology used for daily work and use becomes more and more advanced, it is not surprising that people may have to stay at school for longer time in order to fit into the labor market or even just to fit into our society. Therefore, in the future, we may see a decline of the number of employable people in the labor market, this will improve the employment rate in our economy.
In addition, once more of our time is freed by AI, it means there is an increase in the demand for more luxury consumption, more production, innovation and services will be demanded, this actually will add more opportunities in the world economy and create jobs to compensate the jobs taken away from AI.
To conclude, in the future, the development of AI and other new technologies will not have negative impacts on our economy and society including the employment rate in my opinion, as it can help to free more resources by improving the efficiency of use of resources.
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