To me the stronger argument about AI is that this revolution won't. And that's because this one is not really about productivity or even about capital investment in things that people nominally would want (faster transport, cheaper cotton, home computers). This one is about ending revolution once and for all; it's not about increeasing the wealth of the wealthy, it's about being the first to arrive at AGI and thus cementing that wealth disparity for all perpetuity. It's the endgame.
I don't know if that's true, but that's to me the argument as to why this one is exceptional and why the capitalist argument for American prosperity is inapplicable in this case.
Just because it can self improve doesn't mean it improves better than everything else or without substantial costs to develop improvement.
Have you ever been to a country where there was extreme poverty?
When people talk about China eliminating extreme poverty, that has a specific international definition. From Wikipedia:
Extreme poverty is the most severe type of poverty, defined by the United Nations (UN) as "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. It depends not only on income but also on access to services". Historically, other definitions have been proposed within the United Nations.
Extreme poverty mainly refers to an income below the international poverty line of $1.90 per day in 2018 ($2.66 in 2024 dollars), set by the World Bank.[0]
The average homeless person in America spends several times that amount on drugs, and all of the above services are available to them. Homelessness in America is a societal failure, but it does not meet the definition of extreme poverty.
https://m.youtube.com/watch?v=hVimVzgtD6w&pp=ygUMSGFucyByb3N...
Immigration to the USA, both illegal and legal, has cratered.
Here's a UNICEF report comparing childcare policy amongst rich countries: https://www.unicef.org/innocenti/reports/where-do-rich-count...
Sweden ranks third in the comparison metric (what good is free childcare if it is very bad or inaccessible?), and the us ranks 40th out of 41.