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Which Tyler

UK Politics - From Russia with Love

101 posts in this topic

On 4/21/2018 at 9:26 AM, Werthead said:

I'm pretty sure that's the underlying challenge of the 21st Century: the current economic paradigm has run its course, is coming to its end and is unsustainable from a practical or technological viewpoint, so will have to change, with the possible outcomes ranging from the utopian (a world where most people don't have to work and robots and AI do drudgery for us) to Fallout.

Yes; over time more and more wealth has been concentrated into fewer and fewer hands. Initially this meant that the lives of almost everyone in the world were getting better. Certainly, there are fewer people living in poverty now than there were in 1990 - and there were far fewer people alive then. China and India have been especially better places to live compared to 30 years ago.

However, wealth inequality necessarily means that those getting rich do so at the expense of the poor. There are finite resources and hoarding them means others go without. Now, the world is seeing a slowdown in improvements and where once inequality meant everyone was better off, just some people less so, now it means a regression of living conditions for the poor.

This is partly because environmental disasters have been disproportionately hitting areas such as Bangladesh, whose rising sea levels are displacing millions much more so than the comparatively small rises the rest of the world has seen. And it's partly because the replacement of human labour with machinery has accelerated to the point where even developed nations have begun to see their work-forces shrink, with no avenues forward for those who have been made obsolete.

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