One of the age-old problems with markets is their tendency to renterism and monopolies if left unchecked. Now we have an added problem. Software, given ever-accelerating power by AI, may come to accelerate the capture of more and more of the economy to these forces.
This legal action is an attempt to address that, but is it enough? A recent economics paper points out that although renterism ( defined as the capture of scarce assets by groups who do nothing productive with them, and merely extract rents) is growing in Western economies, little is being done about it.
We seem to be heading for an economic reckoning with AI & robots and work and human jobs, maybe this issue will be dealt with then.
I have my doubts about that. The recent covid pandemic showed us how quickly people can adapt to radical change. How the civilian populations in Europe dealt with Word War One & Two provides further examples.
People are just as likely to adapt surprisingly quickly ; “Keep Calm, and Carry on” the well know poster was from 1939 in Britain at the start of WW2.
For western countries, this probably only applies to France lol. The rest of us westerners don’t seem to have the fervor nor do we seem to unite on anything
One of the age-old problems with markets is their tendency to renterism and monopolies if left unchecked. Now we have an added problem. Software, given ever-accelerating power by AI, may come to accelerate the capture of more and more of the economy to these forces.
This legal action is an attempt to address that, but is it enough? A recent economics paper points out that although renterism ( defined as the capture of scarce assets by groups who do nothing productive with them, and merely extract rents) is growing in Western economies, little is being done about it.
We seem to be heading for an economic reckoning with AI & robots and work and human jobs, maybe this issue will be dealt with then.
Yeah, if i were a betting man I’d wager it will probably end in violence.
I have my doubts about that. The recent covid pandemic showed us how quickly people can adapt to radical change. How the civilian populations in Europe dealt with Word War One & Two provides further examples.
People are just as likely to adapt surprisingly quickly ; “Keep Calm, and Carry on” the well know poster was from 1939 in Britain at the start of WW2.
They are hardly comparable situations.
The lockdown was an inconvenience we shared for a greater good
Price-fixing rent means people starve for landlord greed
Dealt with WW1 and 2?
They war slaughtered by the millions… some serious survivor bias here
Removed by mod
For western countries, this probably only applies to France lol. The rest of us westerners don’t seem to have the fervor nor do we seem to unite on anything
Just wait until nobody has jobs or food security. They say everybody is three days without food away from revolt.
That’s true, our supply chains proved that was the case during covid.
I’d be impressed if we united in a case like that though, instead of just tearing each other apart. Hopefully I’m wrong lol
Yeah, the culture war bullshit has been sown deep. It’s the perfect distraction from the class warfare that forms the basis of modern society.
Stalin is often credited with saying that just fyi lol