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Disintermediation itself isn't tied to the creation of an underclass, rapid technological innovation destroying jobs might be but that's something we need to so
by zimablue 10y ago
Disintermediation itself isn't tied to the creation of an underclass, rapid technological innovation destroying jobs might be but that's something we need to solve with welfare (and Americans are really going to have to get over their brainwashing that accepting government aid makes you scum). Literally the alternative to redistribution is making everyone poorer and manipulating the system so that factory workers can feel like they're worth the money they're paid. Eg. Brexit/Trump - protectionism.
- alphonsegaston 10y agoWhat constitutes "rapid technological innovation" these days is just exceptionally bright people acting as middlemen to concentrate wealth into a new class of financiers. It's not structurally different from Wall St. UBI is just a story being peddled to keep the engineers on board because they're (right now) more moral and science fiction optimistic than their investment banker counterparts. Americans will gladly embrace (maybe have) authoritarianism before they'll abandon the just world fallacy of Capitalist individualism.