Re:The Population Bust
by lotsofpulp on Saturday August 17, 2019 @04:29AM
(#20722892)
Whatever the reasoning, data shows wealth and income gaps increasing, and the ones with capital are the on the winning side.
Re:The Population Bust
by AnthonyMouse on Saturday August 17, 2019 @01:01PM
(#20724932)
That has nothing to do with automation and everything to do with low interest rates. When interest rates are low, people borrow more money and bid up the prices of capital assets.
That is only true if there is a monopoly on automation, which there generally isn't. In which case the productivity increases go into lower prices, which result in greater demand for whatever is still scarce.
That can be capital owners (e.g. land), but it can also be skilled labor or literally anything else which is in demand and people choose to spend the money on that they had saved from the lower prices driven by automation.