[ExI] ai and job loss

Fri Jan 6 01:48:28 UTC 2017

From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of John Clark

Sent: Thursday, January 05, 2017 11:40 AM

To: ExI chat list <extropy-chat at lists.extropy.org>

Subject: Re: [ExI] ai and job loss

On Thu, Jan 5, 2017 at 10:24 AM, spike <mailto:spike66 at att.net> wrote:

> >…But having wealth in the hands of a few is in a way a solution rather than a problem.  

>… India's richest man and the fifth richest in the world spent 1.5 Billion dollars in his new house;

and he decided to tear down an orphanage

 in Mumbai and build it there, right in the middle of one of the worst slums in India's poorest city…

Indeed.  OK so who built the house?  

Before I would buy into the scenario that the locals resent the new neighbor, I would need to talk to them.  We might find he is highly revered, providing jobs in the form of construction work and maintenance on the castle.  

Imagine those who live just outside the castle.  Before it was an orphanage.  Now this huge fine home sits there.  Did the neighborhood improve?  Did it become safer?  Did the real estate values go up?  Did the opportunities improve with the construction process?  My speculation is yes to all, and the locals love this guy.  I speculate that the rich guy didn’t actually slay the orphans, but rather arranged for an alternative facility, perhaps in a safer neighborhood.  I grant the new orphanage neighbors might not be too thrilled with the whole notion.

>…That very stupid man will probably end up getting his head chopped off someday because it's just a fact that astronomical differences in wealth causes resentment; I think that's the cause of the odd behavior of the electorate in both Europe and the USA in 2016…

Hmmmm, well John, that scenario is a bit strained.  If we view the Brexit and the recent presidential election as proletariat revolt, then that puts your favorite party in opposition to the proletariat.  It means deplorable masses rose up and expressed their resentment of wealth inequality by voting for a billionaire.

>… I have nothing against billionaires and everybody shouldn't have the same amount of wealth or anything close to it, but there is a limit 62 people having as much wealth as 3.6 Billion must be getting very close to that limit…

That notion appears to assume that wealth itself is limited.  Wealth is unlimited.  Wealth generates wealth.  That’s one of the most endearing qualities of wealth.

>…And the rate of increase is just terrifying…

Eh, not so terrifying.  The increase in wealth just in recent memory is elating.  

>…even worse all the scientific and political trends I can see point to an acceleration of the acceleration of that wealth gap.  If governments don't start redistributing some of that vast increase in wealth…  John K Clark

Government which threaten to do that are voted into the dustbin of history.  Governments which promote wealth creation replace them.  The internet alone has generated more wealth in our adult lifetimes than anything.  Oh such a deal it is.  Can you even imagine living without it now?

Consider just one tiny corner of the internet: Khan Academy.  There is a great example of wealth just lying there for anyone to take it up.  It’s free, it’s excellent, it is a terrific educational resource.  Anyone can get to it.  Our local elementary school has a program where anyone who cannot afford a ChromeBook can apply to the school board and they make arrangements for the family to get one for each student in the home, and they supply sufficient bandwidth for students to get an education online freeeeeeee free free.

The really poor countries could set up something like this, leapfrogging all the expensive intermediate steps and create a generation of very well-educated little capitalists, eager to make their mark, create wealth like money-spewing Roman candles, skilled in English and the sciences, grabbing up opportunities even in the slums of Mumbai.

This will be fun to watch.

spike  

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