2 hours ago, CSMR2 wrote
@Bass: This is bad economics. Improved technology does affect wages and income inequality. It does not put people out of work (cause unemployment). Unemployment is the failure of demand to equal supply in the labour market. The causes are labour market rigidities - government regulation or imperfect wage adjustment -, taxes and transaction costs.
Also, currently, it is extremely easy for almost everyone in the world to make a living, owing to new technology which has massively expanded production over the last 200 years. There is almost no starvation in the world. This will not last forever, as human population catches up to the resources available, and to a lesser extent as this production depletes or damages the earth.
Don't you see the problem of how human labor is how wealth is distributed, and technology is increasingly devaluing human labor?
I'm not anti-technology, on the contrary. Like most people here I work in the tech sector and I went into it because I love technology and its ability to help people live more interesting lives.
That's EXACTLY why I am concerned about this problem, which I view as very real. As we devalue human labor, which I have 0 problem devaluing, we have to ensure we don't devalue humans. And that is exactly what is happening when human labor is so tied to how wealth is distributed in the economy.
It's a problem that the upper levels of government seem to be full of people who know jack * about tech, so they don't seem to be do anything useful in response. It's going to really f**k up society in unpredictable and possibly violent ways eventually, if this is not addressed.