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Just remember, most of us are simply increasing the ROI of our millionaire/billionaire class overlords while we make modest gains in the ever shrinking middle c
by mensetmanusman 2y ago
Just remember, most of us are simply increasing the ROI of our millionaire/billionaire class overlords while we make modest gains in the ever shrinking middle class.
Had technology induced productivity gains been distributed as they were proportionally in the 60s, the average wage in the US would be 6 figures.
- collias 2y agohttps://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
- helge9210 2y agoIntel 4004 was introduced in 1971. In my opinion, most of the gains in productivity since than can be attributed to automation.
- pokerface_86 2y agowould that 6 figures be as meaningful as 6 figures was when that was the “dream”.
- mensetmanusman 2y agoGood question, if you consider the entire world as static, and slightly adjust the wealth accumulation at the top to create this adjustment, it’s arguably true that the money would be even more valuable, as the US middle class spends the most and fuels the world economy, and they would be wealthier in this scenario. That’s why there are a couple billionaires trying to get this to happen, because they think everyone would be better off. The issue is that the entire financial system has been adjusted over the last 50 years to outsmart everyone else and create this accumulation. Also, if wealth inequality creates unrest, and unrest weakens the dollar, then our current situation is worse on multiple fronts.