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Automation and AI will destroy free market capitalism
#41
(04-27-2017, 05:19 PM)tdogg Wrote: Finster, what is the fantasy that never works out? Government power can be limited or increased based on context...That is what good politicians are for - knowing when, how, and where to limit/increase powers. If we collectively just weaken government for the sake of putting concentrated wealth in check, or even eliminate government powers completely, I do not think that limits the power that concentrated wealth can acquire - I just think it will acquire it via a different mechanism.

On a different note: Article discussing automation and manufacturing.

https://www.nytimes.com/2017/03/28/upsho....html?_r=0

The fantasy that giving the government more power will somehow limit the concentration of wealth.  I can't agree that it can be done selectively as if you could surgically excise the rot and leave the good.  It's like cancer.  Look at what's happened as the Fed has gained power.  We talked about this before.  It's deliberately engaged in a campaign to kite asset prices.  Assets are by definition owned mostly by the wealthy.  So you've had a massive transfer of wealth upstream so that the already wealthy become even wealthier at the expense of the middle class.  Caused directly by concentrated government power.  

Look at the record, tdogg.  More power than ever in Washington, and the wealth gap has been exploding.

If you put out the trough, don't be surprised when the pigs show up.

...   ...   ...

Your point about going off the automation topic is well taken.  So at this point I'll bow out.  If anyone wants to start a new thread on concentration of wealth and government I'll be glad to continue there.

Great thread, tdogg!
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RE: Automation and AI will destroy free market capitalism - by Finster - 04-27-2017, 05:35 PM

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