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> In the past, he said, poor countries were failing to outgrow rich ones because of unfortunate circumstances (“the war, bad policies, and dysfunctional institu
by orionblastar 9mo ago
> In the past, he said, poor countries were failing to outgrow rich ones because of unfortunate circumstances (“the war, bad policies, and dysfunctional institutions that afflicted developing nations in the mid-20th century”)
Or is it the wealthy exploiting the poor through low wages?
- EGreg 9mo agoThey’re not exploiting them, it is a function of not having really strong safety nets or even UBI. So a lot of people are desperate to survive and keep a roof over their head. And technology makes money flow upwards to the rich and corporations. Soon with AI employment is going to become pity-employment. Make-work jobs. Because people just can’t seem to trust other people to be charge of their own time and have free money. Overton window in USA is not there yet. So capital will find ridiculous ways to exploit labor via the desperation of the masses. Maybe gig economies and race to the bottom for service providers as out-of-work people flood the market with useless crap, who knows.
- orionblastar 9mo agoSo they need a social safety net? I agree. They also need a minimum wage to earn enough to live on.
- EGreg 9mo agoOnce people have a UBI you can eliminate the minimum wage laws. People can take unpaid internships, hobbies etc.
- orionblastar 9mo agoI agree that a UBI would have to be used when AI and robots take over jobs.