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by onlyrealcuzzo
477 days ago
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> Cynic in me thinks that all of the wealth generated by enormous productivity gains resulting from automation will not find its way towards population displaced by it. Empirically, that's not true. Unemployment was at an all-time low after most of those jobs were eliminated, and wages after adjusting for inflation continued to rise in real terms. |
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Equally bad is anecdotal evidence, but I’ll drop some anyway. For a while now I am observing a crisis thats, admittedly subjectively, easy to see - but is somehow absent in those empirical sources citing economic accomplishments. An indirect evidence of what I am talking about - is crushing defeat of democrats/establishment in last election, following among other reasons, quite a backlash for boasting about said accomplishments.
But rather than picking issue with one of my points - I still would like someone to describe the counterpoint to my dystopian expectations - where, for example, would all those professional drivers I mentioned earlier go?
Ps. Oh speaking of statistics - remember Greenspan’s “there’s no real estate bubble, there’s froth in individual markets” right before 2008 financial crisis? It be funny like that, sometimes much derided common sense is all you need /shrug.