2 ms·
> What's changed: automation creating value automatically, different from rent-seeking. Nothing new. Industrialization in the 19th century was all about automa
by goodpoint 5y ago
> What's changed: automation creating value automatically, different from rent-seeking.
Nothing new. Industrialization in the 19th century was all about automation and created both poverty and inequality for factory workers.
- simonh 5y agoFactory workers were paid several times as much as agricultural labourers, that’s why they went to work in factories. Industrialisation also drastically reduced the cost and increased the quality of manufactured goods including basics like dyed cloth, bread, soap, etc making them much more affordable to people.
- goodpoint 5y ago> Factory workers were paid several times as much as agricultural labourers This generalization is historically false. Please inform yourself.