This would stop the currently exponential pace of growth from outpacing what society, and regulation, can adapt to. Thus avoiding the inevitable crash that will happen when we lose control of the exponentially accelerating train of technology, and it flies off the rails.
No, what we need is a system where technological progress takes into account the benefits and detriments to all people and the system we exist in (nature+), when implementing said progress. The problem isn’t that things are moving too fast, it’s that a few people have seized control of these things and are pushing them, to the destruction of literally everything else.
Wouldn’t computers have been better if we all got the gains and by now, the time of AI, we were already only working 2-10 hours a week? Look at the charts, that’s where we should be right now. AI should be a “we all have to put in 45 minutes of gig work a week to maintain boomer levels of financial stability” moment.
And no, not just Americans or Western Europeans, everyone should be at this level by now. That is how far we have progressed, and that is what has been stolen from all of us.