Essay likens AI panic to pre-capitalist mercantilism

Venkatesh Rao argues treating intelligence as scarce bullion repeats older zero-sum fears rather than describing a new technical crisis.

In an essay titled Cognitive Mercantilism, Venkatesh Rao uses Joyce Appleby’s history of capitalism to compare current AI anxiety with mercantilist assumptions. He says those views treat intelligence as finite, distrust ordinary users, focus on controlling supply, and expect most people to remain low-grade cognitive labor. He contrasts that with how agricultural productivity freed people from farming without creating “useless mouths.” The piece is historical commentary, not a security incident or product announcement.