Quote:
Originally Posted by jammies
If we're very lucky, we'll end up with a post-scarcity society once technology advances sufficiently and elites are made irrelevant. If we're unlucky, the underclass will decide they can't wait that long, and there will be upheaval and revolutions that will make the socialist revolutions of the 1848 to 1949 era seem like rehearsals before the main show.
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It's a rosy picture. I agree with it though. Inequality is so structural, always has been. The effect of automation on living standards is the real question.
Thomas Piketty really nailed it. Cliff's great post above sounded just like him.