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While I understand the frustration of the author in searching the web today (I do too), I am not sure how they get to: > We end up with real time global access
by necovek 2y ago
While I understand the frustration of the author in searching the web today (I do too), I am not sure how they get to:
> We end up with real time global access from “low trust low income max exploitation because who is going to stop us” wankers to “high trust high income low questioning” societies and everything falls apart.
Obviously, there are "low trust high income max exploitation" folks doing the damage too, as one of the linked articles talks about frauds with wiring large sums (in 100ks of dollars) into Hong Kong, which is itself an expensive city.
Similarly, from the other direction, you've got high-income communities "exploiting" lower-income communities by getting cheaper labour (like getting things produced in China) — paying less than they would locally for the same or larger work effort.
The solution to this is obviously global equalization of salary bands, which is well under way due to an ability to do a lot of highly paid work remotely and globalization in general — but it will take some time (and it's also why China is becoming less appealing in particular: salaries are going up there as well). But that will lead to a new set of problems altogether.