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The only ways to earn money I can conceive of are owning robots and/or real estate. Going to be a ton of disruption as labor is collectively devalued further b
by godzillabrennus 4y ago
The only ways to earn money I can conceive of are owning robots and/or real estate.
Going to be a ton of disruption as labor is collectively devalued further by the deflationary forces known as technological advances.
- moconnor 4y agoA brutal example of commoditise your complements: you can see an economy as capital, land and labour. Labour employs capital to extract value from land. The fear here is that capital replaces labour, leading to the value of labour dropping to zero and the value of capital and land increasing alone. But is labour being replaced, or augmented as it always is by capital? Industrialisation augmented labour more efficiently, but the value of labour has still increased in real terms and has not dropped to zero. That said, I would invest in capital and land now and not in labour.
- moconnor 4y agoIf it helps, a blacksmith who made their daily living producing nails could not conceive of ways to earn money post-industrialisation other than owning a mine or a factory either. But it turns out there are many unimaginable but better ways humans can contribute to our collective success than by banging hot metal into the same shape again and again in a post industrial economy.