The economy is centered around factors of production, which include labor and capital, both of which are value inputs towards meeting some need in the marketplace, and both of whose market price follows supply and demand. The more valuable the input (i.e. scarce+necessary), the higher the market price.
Capital is valuable (high price) when it's needed and scarce, e.g in the junk bond market. Labor is valuable (high price) when it's needed and scarce, e.g productive software engineers.
There's no sense in conceptually elevating capital above labor, or vice versa, insofar as we're attempting to understand economic systems, as they're both just factors of production.
Now, that's not disagreement with Sam's point. Labor will decline in value as an input since AI will provide zero marginal cost competition to labor (effectively it'll be a massive increase in the supply of labor). More supply = less unique value = wages crater. Capital may slightly decline in value too, but at a slower rate than labor.
Capital is valuable (high price) when it's needed and scarce, e.g in the junk bond market. Labor is valuable (high price) when it's needed and scarce, e.g productive software engineers.
There's no sense in conceptually elevating capital above labor, or vice versa, insofar as we're attempting to understand economic systems, as they're both just factors of production.
Now, that's not disagreement with Sam's point. Labor will decline in value as an input since AI will provide zero marginal cost competition to labor (effectively it'll be a massive increase in the supply of labor). More supply = less unique value = wages crater. Capital may slightly decline in value too, but at a slower rate than labor.