I don't think so at all! I just disagreed with your definition of socialism in your previous post. I agree with your definition of capitalism and communism.
Disagreement =/= intelligence. Its just different understandings.
Political and Economic Theory Thread
- Thread starter TheMonkey
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Disagreement =/= intelligence. Its just different understandings.
Bowers and I finally agree on a point and you go and shoot it down!
First off I’m not disagreeing w anything you’ve said as I find it very interesting and I also tend to view myself in the same light as Bowers posted.I’ve heard it said there are two ways to make money.
1. Bundling
2. Unbundling
The internet was the unbundling of the Information Age. AI may seem like an extension of that, but in reality it is rebundling the means of production. Compute, IP, and data storage are being fenced off in ways that the general population cannot participate in. The systems being created will attract users, which will extract more data and synthesis to increase their assets and create lock-in and incumbency that will discourage new entrants and competition. Continuing a trend toward monopolies.
AI and robotics will also rebundle manufacturing and distribution in ways that will add to the bifurcation of our economy. What happens to trickle-down economics then? Does it trickle down to the robots?
This is all creating a flywheel that gives more and more wealth and power to the billionaires as a reward for investing early. I think we’ll see a shedding of blue collar and white collar jobs. The middle class will continue to be hollowed out. We will likely need to institute a UBI to create a safety net for lower income homes.
Eventually, this too will be unbundled, but it may take a while. I think we will eventually move to a Relationship Economy where we actually begin to use technology to bring us together and enhance the human element. But that is just a hare-brained thought I’ve had. Not grounded in research or any objective data.
UBI is an interesting concept. I’d like to read thoughts on (1) who pays the UBI (feds? Corps?) (2) if it’s the feds how do they get the $s to pay out UBI? Since corps will have saved $ hand over fist by not paying salaries, 401ks, health insurance, FICA, OSHA costs and on and on? (3) How do you qualify for UBI and what’s the metric for how much you receive? (4) What happens to health insurance and other benefits like 401ks/retirement plans if businesses don’t employ? This would seem to put a huge strain on individual healthcare/insurance costs and the retirement system. (5) What happens to Social Security Income/Medicare if employees and employers are no longer paying into the system bc they have been moved to UBI?
Seems like there’s a huge tax coming on corporations and ultra wealthy. You can’t just disappear millions from the labor market and not have a complete system collapse.
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