Bravo! Great article as always! I await automation and I believe that the expansion and innovation of technology could lift many out of poverty and free up some time for living. COULD. Has the wealth gap decreased as automation/tech innovation increased? It hasn't in the slightest. The top 10% of earners in the US own 68% of the total wealth, but if you even so much as hint at a Universal Basic Income, out comes the Wealth Transfer criers. The wealth has already been transferred, we need to transfer it back! As technology advances, more and more jobs are being replaced by machines, leaving many people without a steady source of income and increasing profit margins of the already wealthy. This is why a universal basic income is needed. I grew up in the time of Ronnie Ray-gun's "trickle down" bullshit. Didn't work, still won't work. With automation, tech and AI comes the opportunity to provide, at the least, basic needs of humanity to everyone. Or we could run news stories about how shitty everyone's city is because of the homeless...
I think that you are correct in doom means views and it's leveraged as such in the media. Just look at the trope, "Nobody wants to work anymore". I have never seen that on CNN or MSNBC, but Fox News is all about it. In fact, it may have replaced, "The War on Christmas". The doom is misplaced on many, because a lot of Gen X'ers and Millennials probably don't give a fuck about the dollar and US exceptionalism. They just want some security and free time.
Thank you Ralph! Ya, technology is winner take all. The lions share of profits go to fewer and fewer winners, which likely will not help wealth inequality in the near term.
Amen to your last sentence. People want the ability to earn a living, extra cash to spend on family, hobbies, vacation etc, physical security and good opportunities for their children. No need to overthink things more than that
Bravo! Great article as always! I await automation and I believe that the expansion and innovation of technology could lift many out of poverty and free up some time for living. COULD. Has the wealth gap decreased as automation/tech innovation increased? It hasn't in the slightest. The top 10% of earners in the US own 68% of the total wealth, but if you even so much as hint at a Universal Basic Income, out comes the Wealth Transfer criers. The wealth has already been transferred, we need to transfer it back! As technology advances, more and more jobs are being replaced by machines, leaving many people without a steady source of income and increasing profit margins of the already wealthy. This is why a universal basic income is needed. I grew up in the time of Ronnie Ray-gun's "trickle down" bullshit. Didn't work, still won't work. With automation, tech and AI comes the opportunity to provide, at the least, basic needs of humanity to everyone. Or we could run news stories about how shitty everyone's city is because of the homeless...
I think that you are correct in doom means views and it's leveraged as such in the media. Just look at the trope, "Nobody wants to work anymore". I have never seen that on CNN or MSNBC, but Fox News is all about it. In fact, it may have replaced, "The War on Christmas". The doom is misplaced on many, because a lot of Gen X'ers and Millennials probably don't give a fuck about the dollar and US exceptionalism. They just want some security and free time.
Ralph
Thank you Ralph! Ya, technology is winner take all. The lions share of profits go to fewer and fewer winners, which likely will not help wealth inequality in the near term.
Amen to your last sentence. People want the ability to earn a living, extra cash to spend on family, hobbies, vacation etc, physical security and good opportunities for their children. No need to overthink things more than that
Wild to see the GDP data. It really is the US and China...then everyone else.
Ya it’s easy to forget how outsized the economic power of the US is compared to other countries