Re:The World Economic Forum predicts a USD 400 trillion pens...
by RobertoG on Friday June 02, 2017 @09:38AM
(#14469758)
OK, but now I don't get how 'not enough work' (I suppose you mean jobs) is a problem.
I get how not enough real resources (not enough food, not enough housing, not enough infrastructure, not enough knowledge) is a problem but 'not enough work' doesn't sound like a hard problem.
Re:The World Economic Forum predicts a USD 400 trillion pens...
by pixl97 on Friday June 02, 2017 @10:47AM
(#14470269)
Distribution is the hard problem. Capitalism has operated in such a manner that labor has been the means of income redistribution. After you work some time you can invest your income in a market that will provide and even more productive future.
When labor becomes disconnected from gaining capital things become problematic in countries that do not believe in wealth redistribution. If you don't have a job "It's your fault for not working hard enough", if you are getting money from the government "you're a welfare queen". You can run into a system that deadlocks. There is plenty of production. There is lots of need. But there is no means of wealth transfer between those two groups and you can run into a state of consumption collapse.
Modern economies run into issues with lots of investment in bubbles that don't increase productivity. Housing booms that rapidly increase the cost of housing don't increase productivity. Investing in ever riskier twisted financial exploitations does not increase productivity. Having huge amounts of taxable income filtered out of the country robs a country from future infrastructure investment, which does not increase productivity.