Evening the Score For Everyone

A banker recently described possible layoffs as reductions in “lower value, human capital”, and the Tech Bro’s seem to lack much empathy with the social and economic issues their businesses will unleash with the potential AI disruptions. The feeling I get is that one way or the other it’s not going to be a picnic. Could the final result be an evening of the score?

But just as people whose vicious dogs escape and play havoc in their neighborhood face consequences, those feeling insulated on their estates, yachts, and secluded isles may also eventually face fateful consequences for their lack of concern.

One of the solutions for the massive economic displacements is a sort of guaranteed minimum income paid by the government. This has been suggested, but short of minting the money, it would have to be supported by taxes that certainly wouldn’t be payable by displaced workers. Would the rich be willing to sacrifice for the good of the many? That might be a first.

I’d point out that history, and an examination of countries with permanent poverty and classes of poor face the problems of repeated insurrection and civil disscord. In the United States we’ve had periods of discord, but no actual insurrections because their has been opportunities for people to be economically mobile.

The modern-day Robber Barons are living in a renewed Gilded Age. But looking back in the rearview mirror is never a good way to forecast the future. True, the Gilded Age Robber Barons suffered few direct consequences for their actions. But our current society is not that of the late 19th century. Discontent, poverty, aand feelings of disenfranchisement can fan and fuel discord.

If things get bad will the Robber Barrons be able to grab a peaceful sleep below the willow tree?

My opinion is that we still have time to develop equitable solutions, but time is running short, and we’ll soon be having trouble sleeping peacefully if we don’t.