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At which point, GDP growth sinks like a rock, and those rich people become poorer in absolute terms. It's the typical outcome in the vast majority of autocracie
by hibikir 2mo ago
At which point, GDP growth sinks like a rock, and those rich people become poorer in absolute terms. It's the typical outcome in the vast majority of autocracies. It's all over development economics literature, based on purely empirical studies. There's little reason to believe that the US is somehow an outlier. Weaken trust in the system, go from a system of laws to a system of deals, and watch growth go away, with all the unrest that brings.
A pity that so many people in SV only read what flatters them.
- lovich 2mo ago> At which point, GDP growth sinks like a rock, and those rich people become poorer in absolute terms. While I think these guys have an addiction to wealth, I also think they are even more addicted to having more than anyone else. I’m like 80/20 on if these guys would take living in the medieval era but we’re the king or emperor vs being a regular citizen in a Star Trek level of technology and post scarcity society. Rather rules over ashes and all that.
- Gud 2mo agoThere is no way these individuals would want to be demoted to "regular citizen" in Star Trek compared to being a medieval feudal lord. You don't even have to make them emperors.