America Bets Big on AI While Ignoring Everything Else
The Financial Times suggests America is placing 'one big bet on AI,' framing it as the 'magic fix' for every economic threat. This glowing assessment appears just as Congress continues to prioritize massive defense spending and foreign aid over critical domestic needs. For instance, in 2023, while numerous social programs faced cuts, Congress approved billions in military assistance, including for
countries with abysmal human rights records. One might wonder if the magic AI fix will also solve the ever-growing national debt fueled by such priorities (or just optimize surveillance). This narrative, much like the 'trickle-down' economics of yesteryear, positions a select few tech giants for unprecedented gains, while most Americans struggle with stagnant wages and crumbling infrastructure.
The AI boom, conveniently hyped by those set to profit most, mirrors past tech bubbles: inflated hopes, concentrated wealth, and a collective amnesia about the inevitable crash. Will AI finally deliver universal prosperity, or just universal surveillance and automation that further funnels wealth upward?