WinterBorn
Diamond Member
Income inequality is likely to get much worse in the West. This is due to improvements in computers, software, and robotics being employed replacing humans.
Dr Kaufman predicts in a couple decades we will be in big trouble, as so few people will have jobs available to them. Labor costs are declining as demand for labor declines. This just might result in even greater income inequality.
We are in the midst of a structural change that might be good or bad but with a corrupt government with too much power, it is likely to be bad.
Henry Kaufman - Wikipedia
A month ago, while our camping group was sitting around the fire, a friend of mine started a conversation about the next phase in socio-economics. (we had all had a few beers and a couple of shots)
As our technology gets better and better, it will take fewer and fewer people to produce what we need. At some point, barring major wars, we will have basically 2 choices. We can have the small group of people who want for nothing, and a huge population of starving people. Or we can have some sort of method of distributing assets so that the population can live at a certain standard. This will basically be a universal income without any work. The age old philosophy of working for what you have will become virtually obsolete. It goes against the grain for anyone who spent a lifetime working and sacrificing to provide for themselves and their families. But as the conversation went on, I found fewer and fewer ways to argue against it.