Comment by trollbridge
5 months ago
Doesn’t work if all of the productivity gains are captured by the wealthy owners of most of the capital though.
5 months ago
Doesn’t work if all of the productivity gains are captured by the wealthy owners of most of the capital though.
If more of society’s desires can be delivered with fewer people at lower cost, all of society benefits
Not necessarily. For example, if most of society's wealth is concentrated with a few people, and the rest can get crumbs from that table only by serving the wealthy, then a situation where something is delivered with fewer people at lower cost translates to more people starving because they are no longer economically useful.
It doesn’t matter if 1 guy has 99.99% of all wealth on earth if everyone’s living standard is high and they can afford all of life’s wants
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What we are currently experience is less of society's desires being delivered.