Roubini: AI Will Take Jobs Away from People and Could Lead the World Toward Socialism
An economist who predicted the 2008 crisis believes that over the next 20 to 25 years, robots and artificial intelligence will displace a significant portion of the workforce
An economist did not rule out the possibility that the displacement of workers from the labor market could lead to the introduction of a universal basic income / Photo: Shutterstock.com
Over the next 20–25 years, artificial intelligence and robots will displace a significant portion of the workforce, and technological unemployment will become a permanent feature, according to Nouriel Roubini—the economist who predicted the 2008 financial crisis and earned the nickname “Dr. Doom” for his gloomy forecasts.
“This isn’t a bleak picture; it’s an optimist’s perspective. Global economic growth lies ahead, and machines will do all the work. We simply won’t need to work. After all, the idea that the meaning of life and human dignity lie in work exists only in a world of scarcity,” Roubini said on a Bloomberg podcast.
The economist calls the AI revolution the most significant technological turning point in human history and takes an optimistic view of its long-term economic implications. According to his forecast, the development of artificial general intelligence (AGI) will accelerate global economic growth from the current 2% to 4% by the end of the decade, to 6% by 2040, and to 10% by 2050. This will generate the resources needed to redistribute a portion of the income of those who stand to gain the most from the development of AI through taxation, thereby raising the standard of living for everyone else.
“This factor will inevitably come into play: we are headed either toward a de facto redistribution of income—that is, in the form of an unconditional basic income—or toward a proactive system. The proactive option is, in essence, one form or another of socialism.”
Roubini does not rule out the possibility that, over time, the government will acquire 5–10% stakes in the largest technology companies; according to him, the companies themselves are already prepared for such participation. These assets could form the basis of a sovereign wealth fund that would channel a portion of the revenue generated by AI development toward public needs.
"This will allow us to establish a sovereign wealth fund and move toward Marxist socialism. And in fact, we are already moving in that direction."
This article was AI-translated and verified by a human editor
