This Ray Dalio thing is above my financial literacy level, but it tracks with my anecdata. I hear people complaining about struggling to make rent, and people struggling to find a place to put hundreds of millions.
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It’s more that mere inequality or a redistribution problem. The system is trying to solve for returns higher than can be realized by investing in the median human. Otherwise UBI would be a no-brainer answer rather than a debate.
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really? Seems more intuitive to me that the education system is broken so its difficult to generate human capital and that the wealthy are experiencing the exact same problems liberal economists predicted overly centralized socialist economies would face
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And I would also say, „higher returns than can be realized at the current level of technological progress“ - this is our invisible asymptote today
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People without money can't spend more money, growing sectors and industries, so prices of produced goods fall instead.
Thank you for coming to my TED Talk.
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Theories:
- Peter Turchin -- elite competition
- Eric Weinstein -- embedded growth obligation
- planet has been used up
-- greedy westerners
-- too many people
- science/tech has plateau'd
- bad incentives (tax system? civil society?)
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