Re:The AI Unemployment Anti-FAQ (2013)
by apsec112 on Thursday December 22, 2016 @05:22PM
(#13240929)
Returns to capital in the form of ownership of companies (including eg. the source code to automate labor that's owned by those companies) have been flat. Higher returns on capital have almost entirely been caused by higher housing prices. See eg. Rognlie's paper at http://www.mit.edu/~mrognlie/piketty_diminishing_returns.pdf.
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George was and remains right. Economic growth is captured by landowners; the solution is to tax and redistribute at that point.
Re:The AI Unemployment Anti-FAQ (2013)
by antisthenes on Friday December 23, 2016 @02:50PM
(#13246834)
The non-violent solution is thus a land-value tax. Hopefully forcing most if not all the non-economically active people to move to cheaper COL areas.
That is not to say we should discourage home ownership, but we should discourage multiple home ownership for the purpose of rent extraction. Land is a zero-sum market and landlords who are against development and housing construction are effectively stealing value from those who would use thee homes as a residence.
Re:The AI Unemployment Anti-FAQ (2013)
by GFK_of_xmaspast on Thursday December 22, 2016 @05:32PM
(#13240986)
It's almost as if the rate of profit tends to fall.
Re:The AI Unemployment Anti-FAQ (2013)
by eli_gottlieb on Friday December 23, 2016 @09:20AM
(#13244807)
It's almost as if the real solution to our problems is worker control of the means of production.