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While we'll have to agree to disagree about ownership of capital leading to increased inequality, I definitely agree with you when you say that you "do not thin
by tmnvix 10y ago
While we'll have to agree to disagree about ownership of capital leading to increased inequality, I definitely agree with you when you say that you "do not think that the supply of skilled worker can adapt fast enough" to the demand. I think that while education is fundamental, even if it were always of a high quality and free, not everyone has the temperament or innate ability necessary to make the commitment to getting sufficiently qualified.
- yourapostasy 10y ago> ...agree to disagree about ownership of capital leading to increased inequality... If it is not capital ownership, then some other inequality mechanism is at work if the automation trend is true, considering that as automation scoops the obvious and not-so-obvious patterns of workflows in the economy out of the labor market, proportionally none of the benefits accrue to those who are left creating that automation. Think about that for a second. If you are one of the few who create the automation, then by definition what you are doing is currently not amenable to automation. You are creating a fabulous wealth machine with the automation, but by and large, unless you own a capital stake in that exercise, you will not see compensation proportional to the value you bring to the table. It's a curious dynamic to me, because due to classical economics, I would have expected capital to flow more readily to those whose work could not (yet) be automated, to accelerate delivery towards the proven benefits of automation.