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Earth's resources are strained, yes. However, taxing billionaires as you propose wouldn't necessarily pay for all the entitlement spending that the elderly requ
by moonraker 7y ago
Earth's resources are strained, yes. However, taxing billionaires as you propose wouldn't necessarily pay for all the entitlement spending that the elderly require.
A solution to both of these problems is increasing total factor productivity (aka doing more with less). The big rise in living standards during the post-war boom was largely a result of a huge increase in total factor productivity.
This has petered out since the 1970s and a lot of the 'zero-sum' mentality/nostalgia for a 'Great America'/fighting over a fixed economic pie in the US today is because we haven't been increasing productivity (i.e. there hasn't been enough technological innovation and disruption) at a fast enough rate.
- moonraker 7y agoCheatsheet source: https://en.wikipedia.org/wiki/Total_factor_productivity#cite_note-1 https://en.wikipedia.org/wiki/Total_factor_productivity#cite... For the adventurous/curious: https://www.bls.gov/dpr/faqs.htm https://www.bls.gov/dpr/faqs.htm http://www.helsinki.fi/iehc2006/papers2/Warr.pdf http://www.helsinki.fi/iehc2006/papers2/Warr.pdf [PDF] https://assets.cambridge.org/97811070/36161/frontmatter/9781107036161_frontmatter.pdf https://assets.cambridge.org/97811070/36161/frontmatter/9781... [PDF]
- cameronbrown 7y agoI don't think Earth's resources are strained. I think we're approaching capacity, especially in the oil industry, but so much of the food we produce is thrown away.