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IMF: “Technology is chipping away the share of income that goes to workers”
- Nomentatus 10y ago"The gains from technology instead are accruing to the already rich." There's so much rent-seeking from network effects and lock-in, after decades of monopoly laws not being applied, that the profits from automation are largely being vacuumed up by the rent-seekers as the government accepts political donations and looks the other way. This isn't something essential to automation, it's how we choose to do it - through self-appointed monopolies that aren't expected to obey laws.