Does AI cause economic chaos before it exterminates humanity?

The article discusses the historical context of technological innovations and their potential for economic impact, particularly focusing on the railway bubble in 1847 Britain. It highlights how the economy was primed for investment, leading to significant financial speculation. The railway projects attracted massive investments, with half of the capital in the country tied to them, driven by low interest rates and lax regulations. This situation ultimately contributed to a major financial crisis, illustrating the risks associated with rapid technological advancements.