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The article explains it's reasoning - most of the wealth created since 1971 has been in the finance, tech, and globalization sectors. Other sectors have been s
by nostrademons 5y ago
The article explains it's reasoning - most of the wealth created since 1971 has been in the finance, tech, and globalization sectors. Other sectors have been shrinking, but people in finance, tech, or globalization have been doing great. (I assume he's measuring "wealth" as in "net change in revenue", where this statement is roughly correct.) Those three sectors are essentially dependent upon the microprocessor - tech obviously so, but finance is basically the province of computer models these days, and globalization is enabled by the communication, data storage, and algorithmic improvements made possible by software.