Global economy is probably in recession

Re:Global economy is probably in recession by nostrademons on Friday August 09, 2019 @01:46PM (#20656665)

1) In agriculture at least it doesn't - many small competing producers can produce a lot more efficiently than one big one with no checks on inefficiency. There's a lot that's fucked up about Big Ag but most of the egregious stuff (like corn subsidies, or small sharecroppers being forbidden to own or save their own seeds because of IP restrictions) would be fixed by more competition and less government involvement.

2) The economy shifts into the next phase of development. I don't know what that'll be - artistic pursuits? space exploration? - but eventually the service industry will face the same fate as manufacturing and agriculture, and we'll move into a new economic era.

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Re:Global economy is probably in recession by yellowapple on Friday August 09, 2019 @02:08PM (#20656886)

> artistic pursuits? space exploration?

Perhaps artistic pursuits in space :)

Humans don't take boredom well. They'll find something to do even after all their needs are fully met.

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Re:Global economy is probably in recession by ben_w on Friday August 09, 2019 @04:38PM (#20658073)

Art is a service. I’m more curious about what people would do to get any of the things that are currently “the economy” when all needs are oversupplied by, say, a mere 5% of the population in full time work. Would people work less for the same goods? Would there be high unemployment? How do things shift and rebalance? UBI sounds good, but is it politically feasible — some people get called “benefit scroungers” while others are called “pensioners” and “the royal family”?

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Re:Global economy is probably in recession by echaozh on Saturday August 10, 2019 @11:28PM (#20666032)

Communism, mate, that's communism come true.

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