Perhaps economic value can come from a more educated and skilled workforce if they're using AI for private tuition (if it can write as well as us, it can provide a bespoke syllabus, feedback etc.)

Automation over teaching sounds terrible in the long run, but I could see why learning languages and skills could improve productivity. The "issue" might be here that there's more to gain in developing nations with poor education standards, and so while capital concentrates more to the US because they own the tech, geographical differences in labour productivity reduces.

What is the economic value of a wheel? If we flood the market with wheels, we’re going to need far fewer sleds and horses. Pretty soon, no one might need horses at all — can you imagine that?

No, you flood the roads with so many constantly running robot wheels that no one actually wants to walk or drive on the road anymore because the robot wheels keep bumping into them

In the process of making better wheels, you’ve made the roads unusable and now no one wants to leave the house - or buy wheels

I’m not sure if it’s going to be a better world for humans, but roads so crowded with wheels that I don’t want to leave my house sounds like an economy where a lot of wheels are being sold.

The wheels are being sold to humans sitting inside their houses who have been told that if they have enough wheels on the road, they will make the world more productive. Meanwhile, the wheelmaker loses money on every wheel but gets money from the rubber factory. And the rubber factory gets money by selling its stock to the humans sitting inside their houses.

But yes, a lot of wheels are being sold. For now

hell, it has negative economic value because of the opportunity costs of the electricity and water used to produce it.