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All of economics is built on one assumption... scarcity. Hyperproductive AI and hyperproductive robots break that assumption because they dissolve the old material constraints and push prices across huge parts of the economy towards zero. Which kills the scoreboard too. GDP is a sum of whatever gets bought and sold. But as abundance drags more and more prices towards zero a bigger share of what’s really happening stops showing up in the number. Thats the heart of my Economic Singularity framework... and @DMattin explains it wonderfully in this clip. Its what all our work at The Exponentialist is focused on. If you want this thinking in your inbox every week, David and I publish it all at The Exponentialist. Sign up here: https://t.co/8ZLZCY6EXx