5 ms·
sounds like a dismal future. I want to live in a future where we invest in infrastructure, not some dystopian world where tech-bro fantasy provided the rational
by andbberger 5y ago
sounds like a dismal future. I want to live in a future where we invest in infrastructure, not some dystopian world where tech-bro fantasy provided the rational for systemic disinvestment
- eru 5y agoEconomic progress means doing more with less. That includes physical and human capital as well.
- rsj_hn 5y agoEconomic progress means doing more with what you have, and the reason why economic growth is exponential is that you are creating more capital as part of the production process.
- eru 5y agoCapital accumulation is one big part of how we can produce more. But it's far from the only one. See eg https://en.wikipedia.org/wiki/Total_factor_productivity https://en.wikipedia.org/wiki/Total_factor_productivity Doing more with any given amount of capital is very much part of economic progress. (Of course, if you can grow your capital, that's maybe even better. But capital ain't free: what goes into capital production doesn't go into consumption. And what goes into capital production for purpose A, like infrastructure, doesn't go into capital production for purpose B.)
- rsj_hn 5y ago> Doing more with any given amount of capital yes, I'm glad you agree. It's not about doing more with less. It's about doing more with what you have. Capitalism does not promote reduction of either the capital stock or human capital -- in fact, just the opposite!
- eru 5y agoYes. See eg https://en.wikipedia.org/wiki/Dematerialization_(economics) https://en.wikipedia.org/wiki/Dematerialization_(economics) however: we are really using less stuff. Especially per capita.
- MichaelZuo 5y agoIf you arbitrarily limit yourself to developed countries, but the planet has no subdivided boundaries, it’s one system.
- eru 5y agoThe developing countries are roughly going through the same stages, but faster.