cross-posted from: https://sh.itjust.works/post/66183461
cross-posted from: https://lemmy.dbzer0.com/post/74936481
… as hundreds of billions of dollars are flooding into artificial intelligence, there are serious concerns that an AI bubble could trigger another bailout with taxpayer money.
In the interview that follows, leading progressive economist Gerald Epstein, who initiated and directs the Game Changers project at the Political Economy Research Institute at the University of Massachusetts Amherst, talks about AI’s impact on finance and the bailout problem and how a transformative public finance strategy can revive democracy, promote equity and social justice, and build strong and sustainable communities.
My uninformed speculation is that they want to drop the bags on funds you have to bail out, pension funds for example, and then we’re effectively bailing out the people who bet on AI, not AI companies themselves.
And if we don’t, they still win, it’s pensions and savings that take the hit.