American Prestige Bonus - Capitalism After Neoliberalism w/ Ilias Alami (Preview)
Nov 30, 2025
Ilias Alami, an assistant professor of political economy at the University of Cambridge and co-author of The Spectre of State Capitalism, dives into the transition from neoliberalism to state capitalism. He discusses the shift of economic power to East Asia and the impact of sovereign wealth funds and state-owned enterprises. Ilias also critiques the AI investment bubble, linking tech giants to misallocation of resources. The conversation further explores how states leverage AI for control amid social conflict, reshaping economic networks in a competitive geopolitical landscape.
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AI Hype Drives Misallocated Investment
- A speculative AI bubble diverts huge talent and capital into low-value consumer gimmicks instead of solving real social problems.
- Ilias Alami warns that hype channels investment into unsustainable products and fragile business models.
AI As Tool For State Control
- States view AI and automation as strategic tools for control, repression, and managing surplus populations.
- Ilias Alami connects AI adoption to a wider turn toward authoritarian state power and social disciplining.
AI Depends On Physical Supply Chains
- The AI story includes critical hardware and supply chains: semiconductors and critical minerals matter as much as models.
- Ilias Alami emphasizes state interest in controlling extraction, processing, and manufacturing capacities.