Source: Ludwig von Mises Institute
by George Ford Smith
“Artificial intelligence is rapidly becoming one of the most capital-intensive industries in history. Consider: Semiconductor fabrication plants cost tens of billions of dollars. Massive data centers consume extraordinary amounts of electricity, sending power bills soaring. Specialized engineering talent commands premium wages. (Although the median salary for an AI professional is $160K annually, the top 1 percent of AI researchers receive compensation packages exceeding $1 million). Global supply chains must coordinate rare materials, precision manufacturing, and complex infrastructure. Yet discussions about artificial intelligence almost never address the most important economic variable shaping its development: money. From an Austrian perspective, the future of artificial intelligence ties directly to the monetary system that finances it. Whether AI produces sustainable prosperity or another boom-bust cycle depends less on algorithms than on interest rates.” (03/09/26)
https://mises.org/mises-wire/real-threat-artificial-credit-not-artificial-intelligence