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There is a lot to dissect but I would focus on labor force. Our labor force used to be all human labor. Now it includes a large number of bots, both physical an

by todipa 9y ago

There is a lot to dissect but I would focus on labor force. Our labor force used to be all human labor. Now it includes a large number of bots, both physical and software, that take care of business. The (output = labor . x) doesn't work anymore.

kyaghmour 9y ago
Great. But that begs for more questions. Money is a unit of trade between humans for getting something from the other human in exchange for your money. If an entire class of humans is no longer needed, how will they receive money to pay for what they need? How much is your legal tender worth when large swaths of the country whose denomination you claim your wealth from are no longer "part of the economy"? Not that I have answers to these questions. But we do live in interesting times.
- erikb 9y ago
  I believe these questions are exactly what is driving the current crisis. Let's not be confused here. People getting more rich, and prices rising doesn't mean we don't have a crisis. The problem is that nobody knows yet, what this world will look like, where the formula value = number_of_people * output_per_person holds true. So where to put all the capital, power, and information wealth that one has created in a system based on that formula? So everything that gives the impression it may make it over the leap into the next system, start-ups, new currency, tech gimmicks, gives some of the people hope that they have finally found something that will protect them and bring them into a good position for the next cycle of politcal evolution. Truth though is, there are no systems that hold forever, or which could predict something which is not part of their system. There is only flexibility, intelligence, and a few tricks that sometimes work. E.g. making fire will probably the same, even if capitalism has ended. A useful trick to surivive cold and food-sickness. Also the ability to build trust relationships may survive as long as humanity survives. But few of these really enable one to continue living in the luxuries wealthy people are used to.
mcguire 9y ago
"Bots" don't have a separate economic existence. They are a productivity multiplier like any other tool.

by todipa 9y ago

kyaghmour 9y ago

Great. But that begs for more questions. Money is a unit of trade between humans for getting something from the other human in exchange for your money. If an entire class of humans is no longer needed, how will they receive money to pay for what they need? How much is your legal tender worth when large swaths of the country whose denomination you claim your wealth from are no longer "part of the economy"? Not that I have answers to these questions. But we do live in interesting times.

erikb 9y ago
I believe these questions are exactly what is driving the current crisis. Let's not be confused here. People getting more rich, and prices rising doesn't mean we don't have a crisis. The problem is that nobody knows yet, what this world will look like, where the formula value = number_of_people * output_per_person holds true. So where to put all the capital, power, and information wealth that one has created in a system based on that formula? So everything that gives the impression it may make it over the leap into the next system, start-ups, new currency, tech gimmicks, gives some of the people hope that they have finally found something that will protect them and bring them into a good position for the next cycle of politcal evolution. Truth though is, there are no systems that hold forever, or which could predict something which is not part of their system. There is only flexibility, intelligence, and a few tricks that sometimes work. E.g. making fire will probably the same, even if capitalism has ended. A useful trick to surivive cold and food-sickness. Also the ability to build trust relationships may survive as long as humanity survives. But few of these really enable one to continue living in the luxuries wealthy people are used to.

mcguire 9y ago

"Bots" don't have a separate economic existence. They are a productivity multiplier like any other tool.