Comment by aborsy
10 days ago
Not necessarily. The benefits may barely trickle down, and the conditions for the majority could degrade overall.
10 days ago
Not necessarily. The benefits may barely trickle down, and the conditions for the majority could degrade overall.
Based on what evidence? The last few times this happened the whole world benefitted.
Based on extensive academic research on trickle-down economics, in particular looking into the evolution of real wages of different sectors of population, since 1980s.
See the work of recent Nobel prize laureates in economics. Many argue for redistribution and investment back to the society.
But the past few revolutions benefitted everyone and we are better off. Look at industrial revolution, digital revolution. Why do you think it is different this time? If trickle down economics don't work, why is world poverty at all time low and consumption at all time high?
14 replies →
When have we ever had a push to full automation?
Yeah it’s a complicated picture and of course nobody knows, but it would be helpful to split “benefits” into things like;
- net benefits to the average person (considering drawbacks)
- overall relative benefits compared to income groups
- benefits in certain areas of society and topics
I think there’ll be some “benefits for all” in terms of things like medical advances and health technology. There will also be broader benefits to all in general areas but as a parent poster said it’ll benefit equity holders most and there might be some bad tradeoffs (like we’ll have access to much better information and entertainment but it may also affect the overall employment rate). It’s a very nuanced picture and it’s probably disingenuous of some tech leaders to say “we’ll all benefit) but some do believe that will be the future.