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I'm very interested in extrapolating some of these trends out -- America does not have a social system which allows society as a whole to benefit from GDP growt
by vessenes 16y ago
I'm very interested in extrapolating some of these trends out -- America does not have a social system which allows society as a whole to benefit from GDP growth while jobs are destroyed.
My social history tells me that no other countries have been successful at creating such a system either.
Whether or not we have such a system, we may well be moving to a world in which the US can continue to increase GDP significantly while unemployment increases (efficiency increases, in other words). Successfully creating a Chinese middle class, and selling them our branded stuff only hastens that eventuality.
What happens to all these American unemployed people? In an ideal world, they would be artists and poets, inventors and writers, people who add to our cultural capital. The end-game here would (in my dreams) look a lot like Ian Banks' Culture books -- a utopian society which has moved past 'the age of scarcity'. Unfortunately, right now, places like Saudi are the closest we can look to for a society with, frankly, enough money for everyone.
In the interim, we are facing a sort of cultural crisis. America's PDI (Power Distance Index) is middling right now; the PDI describes out comfort with and exposure to, high levels of power differences in society, including wealth. Saudi has one of the highest PDIs in the world, meaning that they as a country haven't solved this problem of building an equitable society based on passive income production; in fact, their society is less equitable than many poorer countries. It is hard to imagine that we are aiming at anything else but a Saudi-ish social system if the GDP growth + unemployment growth trend continues.
I say this partly because Americans think of someone who is 'unemployed' as lazy, uneducated, etc. In fact, there's a significant undercurrent of that perspective in this thread. The reality is that if we are able to keep improving productivity while birth rates decline, there will eventually be less work. There might be more money, but there will be less work.
How do we deal with that? I don't have a good answer, but I still am part of the problem -- I would much rather spend capital on an automated solution for my business than hire someone.