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How does regulatory capture factor into this? This article is primarily about historical wages but does touch on wealth: > If real per capita GDP goes to $10 m
by HankB99 3y ago
How does regulatory capture factor into this? This article is primarily about historical wages but does touch on wealth:
> If real per capita GDP goes to $10 million (in 2024 dollars), rich people aren’t going to think twice about shelling out $300 for a haircut or $2,000 for a doctor’s appointment. So wherever humans’ comparative advantage does happen to lie, it’s likely that in a society made super-rich by AI, it’ll be pretty well-paid.
The first chart of historical wealth trends shows the opposite: https://usafacts.org/articles/how-has-wealth-distribution-in-the-us-changed-over-time/ https://usafacts.org/articles/how-has-wealth-distribution-in...
Will there be enough "rich people [that] aren’t going to think twice about shelling out $300 for a haircut" to bouy wages and wealth?
That sounds like trickle down economics which has not been found to work that well (or so I have heard.)
- ganzuul 3y agoThe trickle-down scenario is one where wealth inequality does not come into conflict with democracy. In traditional societies a wealthy household which could afford a maid but did not have one was committing a social injustice. A poor household can afford a robot maid. A wealthy household can afford a human maid.