AI can’t create a permanent underclass, because we already live under communism. Consider this:
That makes .2% of the population not in the underclass. What makes them think that wealth would be secure? If everyone is unemployed because productive labor has no value, that’s a lot of free time to organize and figure out how to take. This happens rarely in the present economy because efficient takers find a lot of superior opportunities that don’t look like blatant taking (although a lot of taking still goes on, ranging from obvious theft to scamming rich people legally with a start up idea like Kalshi or Polymarket, etc).
If AI makes all the Kalshis and Polymarkets, if crypto is bust and AI makes all the memecoins, AI does all the quant trading, AI makes all the FAANG+ code, sma…