The Complete Triumph of Capital over Labor - there is no more reason to placate the masses
What many people miss is that the classic 3 factor of production, Land, Capital and Labor, has collapsed.
Automation has made labor unnecessary, and it is just Land and Capital. Or, Land, Capital and Technology.
People have ceased to matter. Without firepower they are hapless to resist.
With labor no longer necessary since machines and web-based solutions do all the work, laborers are no longer necessary as well.
All the good locations having bought out by those with access to cheap capital, the masses will be driven to shantytowns, safely out of the zones where the beautiful people live.
The rules of game have changed. Those who harness capital live, those who don't die. Some lucky people, by the accident of birth or by luck who ended up with some choice bits of real estate, will hunker down with what they have, knowing there won't be another.
All labor laws, including workers' comp or the prohibition of stiffing wages, will disappear since the laborers have lost their political power.
Instead of a general collapse, it will suddenly look like South America of the old days, with ranches bigger than many European nations and owners living better than kings, complete with very poor laborers who can be killed by the whim of the foreman, usually a relative of the owner.
People might call it collapse. That is probably going to be true. No more mass consumption, no more prosperity, no more higher standard of living. Instead people will be owned by the capital institutions or the owner of the land where they build their shacks.
And, like the old days when only those who owned property was able to vote, democracy disappears and will be replaced by something like the old Roman Senate.
The century of nicer living for the ordinary people having ended, collapse and technical innovation which will reach the stars will go hand in hand, as shown in North Korea which has both ox-driven carts and space satellites.
Posted Nov 20, 2016, 9:22 AM UTC · edited
Bet you a million dollars that the value of money collapses.
Actually, even if you are right (and I tend to agree), you are on the wrong side of that bet. Think about the payoff for the 2 possible outcomes...
One billion dollars, Zimbabwean style
Brilliant.
Yes. and will probably be replaced by something else, like bitcoin but something controllable by the Winners.
An adorable assumption.
Google, Facebook, etc are all good friends of government (read: TPTB)
yes, there will be controllable blockchains.
Who's in charge of the subatomic particles jiggling around in your mind? I have a pretty good idea of what's actually in charge (just waiting for science to catch up). Want to take a guess what it is?
My bet is trade.
To trade something a line of credit is needed, and it will have to be denominated by something.
Thats an assumption valid only within the current paradigm.
If those digits vanish they won't come back.
Correct. It is not coming back.
What will probably happen is the debts of the 'worthy' will be refinanced at $1,000:1 or that kind of lopsided ratio, while the debts of the ordinary people will continue to be collected in the same rate, to starve out the ordinary.
Nothing is really preventing those that guard the elite from eating them.