CAPITAL IN THE 22ND CENTURY

Summary from the TLDR newsletter

Labor and capital have traditionally complemented each other. While wealthy people can keep accumulating capital, it becomes less valuable when there aren't enough hands to use all of it, and hands grow more valuable when capital is plentiful. However, this correction mechanism breaks in the world of advanced robotics and AI. A global and highly progressive tax on capital (or at least capital income) may be the only way to prevent inequality from growing extreme.