AI Generates Record Profits as Humans Generate Record Joblessness
The Financial Times reports corporate job losses are mounting, citing a 'tightening economy' and the rise of AI. Conveniently omitted is the fact that many of these corporations, flush with cash, are actively investing in automation and AI to explicitly reduce labor costs. Tech giants, often leading the AI charge, have been laying off workers in droves, even as their stock prices soar and CEO
compensation packages balloon. This isn't a natural disaster; it's a calculated decision to maximize shareholder value by offloading human labor onto algorithms, often while demanding government subsidies for their 'innovations.' One might wonder when 'tightening economy' stopped meaning 'corporate greed masquerading as market forces.' The media framing suggests an unavoidable, organic shift,
rather than a deliberate strategy by the very corporations funding lavish political campaigns. How many more headlines will frame mass unemployment as an unfortunate side effect of 'progress' before we ask who exactly is progressing, and at whose expense?