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Joyce Appleby

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Essay argues AI anxiety mirrors mercantilist fears that preceded capitalism

A new essay draws on Joyce Appleby's history of capitalism, 'The Relentless Revolution,' to argue that current fears about artificial intelligence echo the zero-sum 'mercantilist' worldview that dominated economic thinking before market capitalism emerged. The author contends that just as mercantilists believed wealth was fixed and had to be seized through conquest or trade advantage, today's AI skeptics assume intelligence and economic value are similarly finite and must be hoarded or fought over.