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The lazy and stupid but rich will out-survive the industrious and smart but poor.
by saulpw 11mo ago
The lazy and stupid but rich will out-survive the industrious and smart but poor.
- BobbyJo 11mo agoThis. Technology tends to increase the value of capital and not the value of labor, at least that has been the pattern for the last 50+ years. Take that trend to its conclusion and merit is crushed under the weight of who your parents are.
- simianwords 11mo agoI don’t agree. Technology simply amplifies your talents.
- BobbyJo 11mo agoReal wages are effectively unchanged since 1970 [0]. So, either technology hasn't advanced enough to make people more productive, or technology hasn't increased the value of labor. One of the two has to be true. [0] https://www.pewresearch.org/short-reads/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/short-reads/2018/08/07/for-most-... Note on the above, be weary of data that starts ~1980 since that was a deeply recessionary period. Lots of information likes to use that period as the origin since it makes it look like real wages have increased. During 1970 to 1980 there was a steep decline in real wages.
- WhyOhWhyQ 10mo agoTechnology actually devalues your talents and forces you to adopt new talents.