Not really, we’re just being looted and exploited by the ownership class. We have plenty of productivity to take care of everyone:
https://www.epi.org/productivity-pay-gap/
Money isn’t the issue in the end, the issue is that you still need enough people in working age so that you can use the money to get the goods and services that you need as a retiree.
If a large number of people retire without finding any young successor, services just become more and more inaccessible. Like e.g. if there are not enough doctors in your area because many of them retired, you won’t get treatment even with money, because the capacity just isn’t enough anymore to treat everybody. If a car shop closes down because the mechanic retires, you cannot get your car repaired there any longer, even with a lot of money, and so on…
An old society means that the area decays, more and more places close down or cannot get maintained any longer. And money doesn’t help because numbers in a bank account don’t do the real work. There are already a few old regions around the globe where this can be seen
Finally somone who gets it. It’s like economic 101 in school: Money is fundamentally worthless. It can only buy as much as the economy is able to produce
IMO this is an education system failure. You get things like that when you have different skill set in society VS what economy demands. If economy moves towards high tech and you have only unskilled labor at your disposal wages go down. (that plus immigration factor)
If I’m correct, highly specialized workers should get an opposite trend.
If growth doesn’t compensate for shrinking working population, you’ll be fucked. Somone has to work so you have your retirement.
Not really, we’re just being looted and exploited by the ownership class. We have plenty of productivity to take care of everyone: https://www.epi.org/productivity-pay-gap/
Why not make billionaires an illegal thing. Poof! You have money for retirement for everyone
Money isn’t the issue in the end, the issue is that you still need enough people in working age so that you can use the money to get the goods and services that you need as a retiree.
If a large number of people retire without finding any young successor, services just become more and more inaccessible. Like e.g. if there are not enough doctors in your area because many of them retired, you won’t get treatment even with money, because the capacity just isn’t enough anymore to treat everybody. If a car shop closes down because the mechanic retires, you cannot get your car repaired there any longer, even with a lot of money, and so on…
An old society means that the area decays, more and more places close down or cannot get maintained any longer. And money doesn’t help because numbers in a bank account don’t do the real work. There are already a few old regions around the globe where this can be seen
Finally somone who gets it. It’s like economic 101 in school: Money is fundamentally worthless. It can only buy as much as the economy is able to produce
IMO this is an education system failure. You get things like that when you have different skill set in society VS what economy demands. If economy moves towards high tech and you have only unskilled labor at your disposal wages go down. (that plus immigration factor)
If I’m correct, highly specialized workers should get an opposite trend.
You mean, like robots? We have these hard-codded robots that can work a long time without human intervention.
And they have been a thing long before the LLM crap.
Thanks for pointing that out. A lot of people some seem to realize automation was doing fine before LLMs.
The dark factories don’t need LLMs.