3 ms·
>previously the main driver of inequality was landholders (nobility) It is once again. Have you not noticed that property prices, share prices and rent (things
by pydry 3y ago
>previously the main driver of inequality was landholders (nobility)
It is once again. Have you not noticed that property prices, share prices and rent (things you can collect in your sleep) keep going up and up while wages are in a mild decline?
That's productivity gains being captured.
This fomented the creation of a new jeans-wearing aristocratic nobility driven once again by parasitic wealth extraction.
All automation and productivity improvements are doing is keeping living standards in a relatively stable decline while they keep taking.
Land value tax, property taxes, wealth taxes, building - all of these things would stem the bleeding. There's just one minor issue - they have an absolute stranglehold on government and would vehemently (and, violently, as a last resort) oppose them.
I reckon proposing the idea of an "automation tax" is an elaborate bit of misdirection. Robots are pitchfork immune. The parasitic wealth extraction class collecting rents, dividends and interest in their sleep are not.