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by estearum
58 days ago
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If you want to see what just productivity improvements (with no social innovations) naturally does, you can go read about the Gilded Age. Productivity improvements are necessary but not sufficient to enhance human wellbeing. Productivity improvements by themselves appear to simultaneously suppress quality of life for those below the productivity and/or capital ownership bar while increasing quality for those above it. Yes, an economy is perfectly capable of orienting itself around satisfying the wants of the few people who have a lot of capital at the expense of the many who have little capital. Why wouldn't this be possible? It obviously creates systemic risk in the economy, which is one of many reasons it should be mitigated by policy and taxation, but I'm not sure why you're acting like it's some mathematical impossibility. Not sure anyone said anything about humans "disappearing," just driven to extreme economic hardship despite ample overall productivity, which again we have literally hundreds of real world examples of throughout history. |
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Just answer my question, who's buying all the stuff the robots are making when everyones "driven to extreme economic hardship"?