BobKowalski
Well-Known Member
- Joined
- 17 May 2007
- Messages
- 21,748
The trouble with the economy ticking along with gradual improvement is that unless we can create and distribute wealth for government/ordinary people faster than the existing wealthy can acquire further wealth, then we remain stuck in the self-fulfilling spiral of destructive wealth concentration.
Unfortunately, there's nothing to suggest that we can achieve growth rates that will allow that to happen. Arguably the one thing on the horizon that could provide that boost is AI except there's nothing there currently to suggest that this will do anything other than concentrate wealth further and from my understanding of the governments interactions with the AI industry they seem ill equipped to address this.
So the only ways to break the spiralling concentrations of wealth are some catastrophic shock (where the wealthy aren't bailed out) or some sort of government policy interventions around dysfunctional wealth concentration (e.g. incentivising/forcing the wealthy to inject their wealth into the real economy rather than hoard it or using it to hover up existing assets). Without that I fear Labour are just trying to paper over the cracks, they'll get kicked out and we'll end up with a different government who actually accelerate the problem and lead us to something closer to societal collapse than not.
We have had a series of catastrophic shocks from the financial crisis to a pandemic and a major war in Europe. Add in Brexit and austerity it’s a wonder the system still functions at all. Given this I figured a period of stability with no major calamities would give us some breathing space - and then the Yanks elected Trump and off we go again with dumb trade wars and actual wars creating an energy shock to the world economy.
We seem addicted to doing dumb shit and electing people to carry out dumb shit. Perhaps the first step is to stop electing people to carry out dumb shit and see how we get on.
Not to much to ask is it?