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> But I think the biggest impact of all this restructuring will be underdeveloped economies which don't have natural resources to lean on. Almost our entire cu
by taurath 8y ago
> But I think the biggest impact of all this restructuring will be underdeveloped economies which don't have natural resources to lean on.
Almost our entire cultural value is based upon labor and hard work being able to make a living for yourself. If you can no longer do so, what happens?
- mc32 8y agoAs a non-economist, all one can do is take a stab at an idea. The natural pops of mature economies are decreasing, which eases the pain, but that also means a smaller contributory pop. funding non-workers. Can basic income close the gap? Doubtful. That gap is huuuuge. Bernie is crazy if he thinks radical taxation can cover the gap. Underdeveloped economies may or may not be able to achieve widespread affluence, if there is no natural ladder to climb in an economy. On the other hand their expectations are lower than that of the pops in mature economies. Still, it seems calamitous. Still, if his prediction plays out, then pain lies ahead. If it's slow coming like the one Japan is virtually experiencing, it may be palatable, to a great degree.