

The forever recession (and the coming revolution)   - cwan
http://sethgodin.typepad.com/seths_blog/2011/09/the-forever-recession.html

======
david927
Seth is right and it's becoming more and more obvious. In the news recently, I
read that Foxconn is replacing a thousand workers with robotics. The
industrial age is over.

The next big insight is that as wealth classes further bifurcate, it will
ultimately lead to something like Cap/Floor in all democratic societies. The
one thing the less-fortunate will have is their numbers. It would be hard to
stop them from democratically simply placing a cap on wealth and a floor for
themselves -- a basic monthly government-provided income available to all of-
age citizens. Everyone will get some amount, say a few hundred, every month.

During the last depression (I would argue that because of deflation and the
liquidity trap, we're actually in a depression) the top tax bracket in the US
was 94%. I don't expect it to be much different this time.

------
agscala
This is right on the money. I don't know how we are going to support the
lower-class in light of this revolution. There are far too many people who are
not in a position to pursue education and it is these people who are having
their jobs stripped away from them.

