I do see your point. But that is why what the article describes is an inevitable problem.
Edit: I also do think that if I didn't do my job, nobody would be starving, and I am greatly overcompensated for it. Doctors, nurses, teachers, farmers... all of those jobs that are wildly more important for society to function are way less paid than my job fixing bugs in a corporate website, which is a fundamental flaw in the system if the aim is to incentivise people to keep society running well. For example, I know someone who is a doctor who is trying to leave to work at a hedge fund because the work is so under-compensated. This is a massive problem.
But your work may contribute to a product that helps a doctor, nurse or teacher do their job.
Even if it does not directly do that, maybe your fellow workers use the income they get from the company existence to raise their kid who becomes a doctor, nurse, etc.
This does not solve the problem that people are compensated based on the ability to create profit and the trendiness of the industry, not on usefulness. If I allow a kid of someone in my company to go to med school and then they drop out of being a doctor because the pay sucks and become yet another financier/dev/consultant/middle manager/entrepreneur of fairly useless business, then the system still failed.
I don't know about that. We might not have all the choices for eating we have now, but there are a lot of people (even in my own family) that like growing/ hunting for, and serving food for some reason. At this point we have all the resources and knowledge to produce the food needed to survive, but it's in human (animal) nature to always want more than nature provides.
Yeah but most people aren't farmers. How much economic value gets tied up in investment schemes? How many people worked for years on crypto or the metaverse or what-have-you—projects that only existed to boost stock price, rather than because anyone needed them?
Our society doesn't optimize the lifestyles of its citizens. It optimizes stock price, which leads to an economy where everyone works a lot, even on things nobody needs, in pursuit of returns for investors. Does the Silicon Valley VC unicorn portfolio model actually help anyone other than VCs and founders?
Exactly. A lot of people would be bring more value to society doing literally ANYTHING else than working on the metaverse or something but they won't get compensated the same for the actually useful stuff.
And when the metaverse bubble bursts because Zuckerberg is tired of burning money, those people will get laid off. On top of wasting resources, it creates instability.
I do see your point. But that is why what the article describes is an inevitable problem.
Edit: I also do think that if I didn't do my job, nobody would be starving, and I am greatly overcompensated for it. Doctors, nurses, teachers, farmers... all of those jobs that are wildly more important for society to function are way less paid than my job fixing bugs in a corporate website, which is a fundamental flaw in the system if the aim is to incentivise people to keep society running well. For example, I know someone who is a doctor who is trying to leave to work at a hedge fund because the work is so under-compensated. This is a massive problem.
But your work may contribute to a product that helps a doctor, nurse or teacher do their job.
Even if it does not directly do that, maybe your fellow workers use the income they get from the company existence to raise their kid who becomes a doctor, nurse, etc.
This does not solve the problem that people are compensated based on the ability to create profit and the trendiness of the industry, not on usefulness. If I allow a kid of someone in my company to go to med school and then they drop out of being a doctor because the pay sucks and become yet another financier/dev/consultant/middle manager/entrepreneur of fairly useless business, then the system still failed.
3 replies →
I don't know about that. We might not have all the choices for eating we have now, but there are a lot of people (even in my own family) that like growing/ hunting for, and serving food for some reason. At this point we have all the resources and knowledge to produce the food needed to survive, but it's in human (animal) nature to always want more than nature provides.
Yeah I think a lot of people care about that stuff.
Yeah but most people aren't farmers. How much economic value gets tied up in investment schemes? How many people worked for years on crypto or the metaverse or what-have-you—projects that only existed to boost stock price, rather than because anyone needed them?
Our society doesn't optimize the lifestyles of its citizens. It optimizes stock price, which leads to an economy where everyone works a lot, even on things nobody needs, in pursuit of returns for investors. Does the Silicon Valley VC unicorn portfolio model actually help anyone other than VCs and founders?
Exactly. A lot of people would be bring more value to society doing literally ANYTHING else than working on the metaverse or something but they won't get compensated the same for the actually useful stuff.
And when the metaverse bubble bursts because Zuckerberg is tired of burning money, those people will get laid off. On top of wasting resources, it creates instability.
Unless you can find a person who's deepest passion is feeding others.