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What happened to agricultural commodity prices in the 1920s (causing rural poverty that spiraled into the Great Depression) is now happening to almost all human
by michaelochurch 13y ago
What happened to agricultural commodity prices in the 1920s (causing rural poverty that spiraled into the Great Depression) is now happening to almost all human labor. Perhaps the cutting edge of technology will be spared-- that's what most HN posters have bet their careers on-- but even that's unlikely if the collapse spreads.
Poverty isn't self-correction or "market discipline". It's a cascading failure that corrupts the whole society, then as well as now.