THE HARDWARE ABSTRACTION: MODERN MERCANTILISM, PHYSICAL AI, AND THE THREAT TO THE GLOBAL MIDDLE CLASS

{"Modern":[0],"macroeconomic":[1],"models":[2],"operate":[3],"under":[4],"the":[5,20,46,49],"foundational":[6],"assumption":[7],"that":[8],"technological":[9],"expansion":[10,39],"naturally":[11],"yields":[12],"broad-based":[13],"productivity":[14],"gains":[15],"and":[16,26,56,75,94],"wage":[17],"growth.":[18],"However,":[19],"current":[21],"convergence":[22],"of":[23,36],"modern":[24],"mercantilism":[25],"capital-heavy":[27],"physical":[28],"artificial":[29],"intelligence":[30],"is":[31],"engineering":[32],"a":[33,62],"structural":[34],"decoupling":[35],"corporate":[37],"capital":[38],"from":[40],"mass":[41],"human":[42],"labor.":[43],"Authored":[44],"for":[45],"2026":[47],"Forecasting":[48],"Future":[50],"Challenge":[51],"hosted":[52],"by":[53,86],"Global":[54],"Citizen":[55],"Bridgewater":[57],"Associates,":[58],"this":[59],"paper":[60],"provides":[61],"1-to-5-year":[63],"probabilistic":[64],"macro":[65],"framework":[66],"examining":[67],"how":[68],"sovereign":[69],"tech":[70],"capex,":[71],"nuclear":[72],"energy":[73],"monopolization,":[74],"autonomous":[76],"robotics":[77],"deployment":[78],"trigger":[79],"\\"The":[80],"Great":[81],"Flattening\\"—a":[82],"systemic":[83],"paradigm":[84],"characterized":[85],"stagnant":[87],"household":[88],"purchasing":[89],"power,":[90],"elevated":[91],"cost-push":[92],"inflation,":[93],"persistent":[95],"benchmark":[96],"interest":[97],"rates.":[98]}