Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
I have a good friend who is homeless and begs for money. He says his life is much better than the life of the richest people of just a few centuries ago.
That’s not even true, even when accounting for the advance in technology, because your friend is likely dirt poor.
There are still lots of people much better off financially than your friend who work to keep wages low, work benefits low, and prices high. A daydream about the past doesn’t matter, because his and 90% of people’s material conditions are shit, and this financial and class oppression is what matters, not what fancy technology we have that makes us think we’re “kings”.
Didn’t read the article yet.
I have a good friend who is homeless and begs for money. He says his life is much better than the life of the richest people of just a few centuries ago.
That’s not even true, even when accounting for the advance in technology, because your friend is likely dirt poor.
There are still lots of people much better off financially than your friend who work to keep wages low, work benefits low, and prices high. A daydream about the past doesn’t matter, because his and 90% of people’s material conditions are shit, and this financial and class oppression is what matters, not what fancy technology we have that makes us think we’re “kings”.
Food is very cheap and available everywhere. Clothing is basically free, and clothes are now easily high quality.
Other people is richer than you does not mean your conditions are bad.