AnalysisPolicyOctober 26, 2026

Essay compares AI panic to fears of early capitalism

Read original source →contraptions.venkateshrao.com

Venkatesh Rao's essay "Cognitive Mercantilism" argues AI panic mirrors the zero-sum mercantilist worldview that preceded capitalism, drawing on Joyce Appleby's The Relentless Revolution (2010). He contends capitalism emerged only once people saw wealth as created rather than captured.

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