> Amid this uncertainty, there are at least a few reasons for hope that society can better manage a disruptive technological shock this time around. In the past, policymakers were limited by weaker and less knowledgeable institutions than we have today. Social science has made strides in understanding how technological shocks unfold and how to measure the impact of new innovations on labor markets. We also know more about the toolkit governments have to implement policies and how to scale them quickly.

We as in "humanity as a whole" might have the knowledge and the tools... but only in theory.

In practice, most Western governments are falling to the far-right / ultra-libertarian populist crowd. They will not apply what should be done (tax the rich profiting off of AI and redistribute that) simply due to it running contrary to their ideology. And on top of that, most Western countries never came off of the debt they took on during 2007ff, instead adding much more debt during and after Covid and now the Russian war against Ukraine, and probably at least some will also finance urgent aids for the people due to the Iran War with debt.