&quot;You just beautifully summarized the &quot;Lump of Work fallacy&quot;&quot;<p>The fallacy claims that the number of jobs is a zero-sum game.  I&#x27;m not saying this at all.  While more jobs will be created, because automation is happening at such an exponential rate, there won&#x27;t be enough jobs replaced.<p>I have feeling when we do have AI, many of these economic principals will need to be re-written.<p>More from this article:<p>&quot;Whereas some argue that immigrants displace domestic workers, others believe this to be a fallacy, arguing that such a view relies on a belief that the number of jobs in the economy is fixed, whereas in reality immigration increases the size of the economy, thus creating more jobs&quot;<p>Immigration may increase the size of the economy, but if they are hired at let&#x27;s say 30% of an American working  at the same rate, it essentially dilutes the market.  Americans now have to compete with someone making much less than them, which will mean a huge pay cut.<p>With AI, it will mean competing with algorithms&#x2F;hardware that can probably be purchased for even less than the cost of a worker.<p>The end game for this will be a class of people owning all of this AI hardware, the poor, and a much smaller middle class of people in-between that have the skills to work on the AI hardware.<p>What happens to all of the people that aren&#x27;t educated or don&#x27;t have the skills in this new economy when all of the jobs they could do to make money have been replaced by AI?