Biggest changes in the last 20 years to the human experience in the developed world were occasioned imo by social media and the smartphone
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In the US and Europe you also have multiculturalism and rising cost of living, but that's not global
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If I had to say what the East coast's most important contribution was I'd say medical innovations, but that's pretty spread out over US tbh
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Replying to @BitingGadfly @manwblueguitar
Oh I would say it's still definitely finance--private sector in NYC, public sector in DC
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Replying to @380kmh @manwblueguitar
That's definitely the biggest economic product, but in my opinion it's not really progress in any form, it's just a game the rich play
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These big ipo's for innovative companies tend to come out after they're big and financially stable, that's not contribution, just greed
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That's always been the pattern as I see it-Vanderbilt, Carnegie, Rockefeller, Ford- they innovated, then bankers like Morgan played games
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There are exceptions but I don't see the effects of banking to be generally necessary or desirable
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Really the vast majority of banking today is done by algorithms on indexes, even when it's not it's usually known companies. Not innovation
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That's probably a huge force for monopolization and institutionalization honestly, which I believe was one of your original complaints
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yes, altho those tendencies predate it by a long while
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Replying to @380kmh @manwblueguitar
Absolutely, but the personal monopoly of the great industrialist was imo preferable (though not ideal) over today's bank run conglomerate
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