That seems like a Q3 issue for 2026 let's put the conversation off till then.
/s
this post was submitted on 14 Jul 2024
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Q3 2026 will come around and the AI will report that revenues are down. The CEO will respond the only way they know, by ordering that costs be cut by laying off employees. The AI will report there is no one left to lay off but the CEO.
Fade to black and credits roll.
Back in the 1980's they told me it'd trickle down.
...eventually.
They were actually talking about how they were pissing on the living room floor while we're in the basement.
Capitalism is all about short-term profit. These sorts of long-term questions and concerns are not things shareholders and investors think or care about.
Further proof of this: Climate change.
Funny thing is that capitalism accidentaly solves global warming same way as it created it - turns out renewables are cheaper than fossil fuel, and the greed machine ensures the transition to more cost efficient energy sources
The problem is that the previous accumulation of capital has centralized a lot of power in actors who have a financial incentive to stop renewables. If we could hit a big reset on everything then yes, I think renewables would win, but we're dealing with a lot of very rich, very powerful people who really want us to keep being dependent on them.
It's a hopeful idea, but it may be too late.
The whole increasing concentration of wealth and fall in median quality of life can be traced back to basically each individual of the Owner Class thinking that somebody else will keep the system going by employing people and paying them well enough so that they keep on buying stuff.
The whole think is pretty much a Tragedy Of The Commons as defined in Games Theory, only instead of a shared grazing commons that would be fine if just one person had a few more sheep than they should (but gets overgrazed and then everybody looses if more people have a few more sheep than they should), we have the Economic system.
Historically one of the big reasons for the invariable appearance of some kind of social construct above the individual with the ability to make decisions for the group and force individuals to comply (from the "council of elders" all the way to the modern Democracy) is exactly to stop people from, driven by pure selfishness, "overgraze" in the various "commons" we have and ending up destroying the whole thing for everybody - if you have one or two doing it the "commons" can handle it, but too many and you get a tragedy.
And here we are after 4 decades of Neoliberalism whose entire purpose was to reduce the power of entities making decisions for the good of the group to overseeing the commons and force individuals from overexploiting it, so it's not at all surprising that we are seeing various common systems starting to collapse due to over-exploitation.
I'm pretty certain that whatever societies will be dominant next are not those which embraced Neoliberalism the most as those will be the ones with the most collapsed systems and that stuff takes a lot of time to recover, plus the very people who overexploited them to collapse will do all they can to avoid having stop what they've been doing and that gave them so much personal upside maximization and they've basically bought politics in the West, so there is no actual will to do it in the Power Elites (there's a will to get the upsides of a well functioning society but no will for they themselves to do the concessions needed, only for somebody else to do it, which is exactly the mindset that when not stamped out by some kind of oversight entity causes the problem in the first place).
Norway
Neoliberalism is killing the good parts of Norway (and there were bad ones to begin with).
The vanishingly small amount of people that will be unfathomably rich in a privatized post-scarcity economy will give us just enough in UBI to make sure we can buy our Mountain Dew verification cans. And without the ability to withhold our labor as a class, we'll have no peaceful avenue to improve our conditions.
Why are you obsessed around wealth of other people? You should be more concerned about your own income rather than some super wealthy CEO
Because, as OP points out, wealth disparity is a zero-sum game. Being concerned about the super wealthy is being concerned about our own income.
wealth disparity is a zero-sum game
Except it's not. That wealth isn't cash in some bank account, in most cases it's a stock in companies these people built from scratch - Bezos made Amazon, Gates Microsoft, Buffet Berkshire Hathaway and so on
The wealth of super rich is allocated in places that produce goods and services
Keep defending your CEO daddies. I'm sure their wealth will trickle down to you any day now.
Keep defending your CEO daddies
Maybe I'm one of them?
Lol
Because my labor creates their super wealth, and because they're destroying the planet to maintain it.
In a better world machines would do the work and humans just would share the wealth and live life in peace.
The thing is though, everyone needs to do something just for the satisfaction of not doing nothing.
I wonder if there are ways for people to find meaningful things to do other than being forced to work in order to be housed and fed?
Nah, everyone loves their meaningful and fulfilling work.