Thursday, October 18, 2007
Public Jake Debate
Jake responds to my last blog post.
While I agree that it's best not to speculate on "raw unencumbered capitalism" until it's experienced, I think it's safe to make general economic predictions based off what we've seen.
With pure capitalism, technology will flourish because it's the most efficient economic system. I'm of the belief that technology and progress will create more wealth overall – the pie will grow. However, I'm also of the belief that fewer people are needed to run a more technologically advanced society and fewer jobs are required. Those jobs no longer needed will be middle class jobs (tasks that can now be automated, like an assemblyman in an auto factory). Those profiting from the consolidation of technology will still need the service class, so lower paid jobs will be maintained. Due to the elimination of average jobs, the gap between rich and poor will continue to grow as the middle class gets squeezed out of an information economy.
David Simon is correct in his statement that in a post-industrial capitalist system, the worth of a typical human is less than it was previously. They just aren't needed as much.
Looking fwd to Jake's retort.
Exciting at 2:02 PM. Link to this post.
Public Jake Debate
Jake responds to my last blog post.
While I agree that it's best not to speculate on "raw unencumbered capitalism" until it's experienced, I think it's safe to make general economic predictions based off what we've seen.
With pure capitalism, technology will flourish because it's the most efficient economic system. I'm of the belief that technology and progress will create more wealth overall – the pie will grow. However, I'm also of the belief that fewer people are needed to run a more technologically advanced society and fewer jobs are required. Those jobs no longer needed will be middle class jobs (tasks that can now be automated, like an assemblyman in an auto factory). Those profiting from the consolidation of technology will still need the service class, so lower paid jobs will be maintained. Due to the elimination of average jobs, the gap between rich and poor will continue to grow as the middle class gets squeezed out of an information economy.
David Simon is correct in his statement that in a post-industrial capitalist system, the worth of a typical human is less than it was previously. They just aren't needed as much.
Looking fwd to Jake's retort.
Exciting at 2:02 PM. Link to this post.