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One thing I have always wondered: Is it possible for everyone to be perfectly rich? Could everyone become a billionaire? The conventional wisdom on both sides
by ipnon 5y ago
One thing I have always wondered:
Is it possible for everyone to be perfectly rich? Could everyone become a billionaire?
The conventional wisdom on both sides of the political spectrum seem to disagree completely. The Left believes wealth comes at the expense of the poor. The Right believes wealth is a positive sum game (to this point notice that billionaires almost exclusively exist in countries where the average income is relatively high).
But surely our understanding of economics breaks down at the limits. Imagine all of the economy was automated. We have autonomous machines for all of the supply chain from raw material to doorstep, and we have superintelligent AI in our networks and perhaps even in our own brains. Do our bank accounts then all explode into the infinite? Or does the absolute abundance of economic miracle mean it has no premium; we're all dollar poor living in mansions?