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I think a real part of the equation that we're missing is that the "value" that the market can charge for the fruits of labor is going down. Not sure how to ver
by zo1 4y ago
I think a real part of the equation that we're missing is that the "value" that the market can charge for the fruits of labor is going down. Not sure how to verbalize/explain the point better. So the potential that 1 hour worth of labor can be sold for on the aggregate is going down. And in my head it makes sense because automation is making the bulk of our labor redundant, and it's only going to get worse. The market is signaling something deeper that we're yet to uncover because we're looking at second-order signals.
- BurningFrog 4y agoIf this was true humanity would be getting poorer. In reality we're steadily getting richer each year. We've been automating away work for 250 years, and people have been worrying about how automation will make them poorer for 249 years :)