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The End of History? Envisioning the Economy at Technological Singularity

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Listed:
  • Sachin Sharma
  • Vijay Kumar
  • Babloo Jakhar

Abstract

This paper contributes to the growing body of literature exploring the ramifications of AI-driven technological singularity and its economic implications. The exploration unfolds in three key segments. First, it sheds light on the concepts of artificial general intelligence (AGI), AI superintelligence, and singularity itself. Subsequently, it discusses the AI alignment problem, addressing the potential outcomes of superintelligent AI on human civilisation. Further, Giddens’ structuration theory is used to highlight the prominent role of AI-based “authoritative resources” in determining the allocation of resources and ensuring distributive justice in a techno-utopian society. The paper also explores the idea of utopia and the “end of history” and concludes with the suggestion that achieving a technological utopia with superintelligent AI is a mechanism design problem.

Suggested Citation

  • Sachin Sharma & Vijay Kumar & Babloo Jakhar, 2024. "The End of History? Envisioning the Economy at Technological Singularity," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 53-63.
    • Handle: RePEc:sgh:gosnar:y:2024:i:2:p:53-63
    as

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    References listed on IDEAS

    as
    1. Robert J. Gordon, 2016. "The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War," Economics Books, Princeton University Press, edition 1, number 10544.
    2. Ingrid Robeyns, 2005. "The Capability Approach: a theoretical survey," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 6(1), pages 93-117.
    3. Daron Acemoglu & Pascual Restrepo, 2018. "The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment," American Economic Review, American Economic Association, vol. 108(6), pages 1488-1542, June.
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    More about this item

    Keywords

    economic convergence; technological singularity; end of history; alignment problem; superintelligent AI;
    All these keywords.

    JEL classification:

    • N00 - Economic History - - General - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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