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I notice how Marc doesn’t spend any time talking about the distribution of technology’s upside. All signs point to a natural consequence being more severe wealt
by ethanbond 3y ago
I notice how Marc doesn’t spend any time talking about the distribution of technology’s upside. All signs point to a natural consequence being more severe wealth accrual to the top, which makes sense since a technology fundamentally gives the operator/owner power without having to convince (i.e. pay) other humans to help them out.
Each new technological advancement seems to be more marginally valuable to the top of our society than to the bottom, and that delta seems to be growing over time not shrinking. I suspect “lower level” innovations in the value chain would be different, e.g. agriculture or energy, but let’s be honest about what actually consumes most of our industry’s talent and capital (as allocated by very very few unelected billionaires).
Even if absolute quality of life/prosperity increases, the delta itself is a really, really serious destabilizing force. In fact we know that people can live stably and happily in fairly destitute conditions, not that that should be the goal.
- oceanplexian 3y agoIt doesn’t really matter if the delta shrinks, if, in absolute terms people in the bottom and middle are better off. This is the problem I have with the framing of wealth inequality. If you're better off than a king was 100 years ago, and there’s a billionaire out there that’s a thousand times richer than you are, what’s the issue? I’d rather live in a high-delta society than a society where everyone is equal, but equally destitute (Venezuela, Cuba, etc).
- deleted 3y ago[deleted]
- ethanbond 3y agoIt really does matter. https://docs.iza.org/dp13923.pdf https://docs.iza.org/dp13923.pdf https://www.bloomberg.com/news/articles/2015-12-21/the-relationship-between-happiness-income-inequality-and-economic-growth https://www.bloomberg.com/news/articles/2015-12-21/the-relat...
- TotalCrackpot 3y agoThere are high delta societies where almost everyone is destitute too like Democratic Republic of the Congo.
- RAIN92 3y agoAre we, really? Do we have King's financial independence, spare time, crazy useless dinners and parties? Working your a* off for free (yep, in many countries you have a lot of free labour, free internships, slavery-like conditions) for future opportunities™ and still fighting for remote working. my ancestors worked from home (as sharecroppers the land was literally behind the house) and at least they had lunch paid for by the feudal lord.