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by api
3955 days ago
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It's largely a concept I've encountered online, with varying degrees of precision in discussions. There will be books about it in 20 years once the academics notice, sort of like stagflation (which was "impossible"). It really strikes me as an exact description of today's economic reality -- stagnant wages, deflation in manufactured goods and anything tech, and crazy inflation in areas like housing, rent, health care, and tuition. So far this has been driven mostly by outsourcing, not automation. When automation really kicks in with good AI, it's game over. There will be universal basic income or blood in the streets. |
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