It's "hopeful" that the future of all culture will resemble food, where the majority have access to McDonalds type slop while the rich enjoy artisan culture?
Most people's purchasing power being reduced is a separate matter, more related to the eroding middle class and greedflation. Many things can be said about it, but they are less related to the trend I highlighted. Even if, supposing the middle class erosion continues, the scenario you suggest may very well play out.
>Most people's purchasing power being reduced is a separate matter, more related to the eroding middle class and greedflation.
Greedflation, is that where companies suddenly remember to be greedy again after years of forgetting they're allowed to be greedy, which happens by random chance to coincide exactly with periods of expansionary monetary and fiscal policy?
In that case, I welcome an alternative explanation for the human labor price increase on UpWork and Fiverr while AI work replaced work at the previous price level. The same is seen in the hiring of affected disciplines.
e.g.
You have tasks advertised in the distribution $1, $1, $1, $1, $1, $1, $2, $2, $3, $3, $5, $5, $10. Median price is $2, and average is $2.76.
All the $1 and $2 tasks are replaced with AI. Old tasks get $1 cheaper each as there are more people that can do them. Now the distribution is $2, $2, $4, $4, $9. Median is $4, average is $4.2.
So you have made labour less valuable but the prices advertised go up because only the more expensive work now gets advertised.
It is still much better than when large numbers of people starved if it rained a bit in the wrong week.
He spoke of the grass and flowers and trees
Of the singing birds and the humming bees;
Then talked of the haying, and wondered whether
The cloud in the west would bring foul weather.