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by _2d30
2334 days ago
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> Oh, and by "growth" I mean the insane asset price inflation and concentration wealth, strengthening of the military-industrial complex, monopolisation by corporations, too big to fail banks and financial institutions. Well if we are just totally changing what growth means... |
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Just check real wage growth in the western world, after inflation it is stagnant or negative in the last decades; add in hugely inflated housing prices, education prices, and it is very clearly a big NEGATIVE outcome for the average person; this is only offset a bit by women entering the workforce, now you have 2 slaves instead of 1.
Yeah, the developing world might fare better -- for now -- as they are much cheaper then workers in the developed world, but the same trap awaits them, the same asset price inflation, education costs and so on is happening in the developing world, it's not fully our turn yet, but the writing is on the wall.