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The Decoder

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AI elites might hoard intelligence like mercantilists hoarded gold

Engineer Venkatesh Rao compares the fear of AI job losses to mercantilism: intelligence is treated as a scarce resource that elites want to control. But AI could boost demand for human thinking, much like early capitalism made people voluntarily work more. The article AI elites…

The DecoderBy: Manuel UthNovember 2, 2026 (1 hour ago)
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AI Summary & Key Takeaways

  • Engineer Venkatesh Rao compares the fear of AI job losses to mercantilism: intelligence is treated as a scarce resource that elites want to control
  • But AI could boost demand for human thinking, much like early capitalism made people voluntarily work more
  • The article AI elites…
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AI elites might hoard intelligence like mercantilists hoarded gold

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