Comment by verzali
3 days ago
Enjoy life? Seems like the Americans are going to be the ones getting the raw deal with the extreme inequality they are stumbling into.
3 days ago
Enjoy life? Seems like the Americans are going to be the ones getting the raw deal with the extreme inequality they are stumbling into.
It will be more like India under the East India Company. European economies will pay a tax to America or China for AI and robotics technology unavailable at home. Remember, the British didn’t “loot” India in the sense of walking out the door with rupees. They halted India’s economic progress by preventing access to revolutionary industrial technology without going through British companies. Indians grew cotton, but if they wanted manufactured textiles they had to export to cotton to Britain and by back the finished goods from British companies. Europeans will find themselves in the same place with AI and robotics.
And yeah, India had very low income inequality back then. It still does! It has a Gini coefficient of 25.5, making it the fourth most equal country in the world.