Capitalism is getting obsolete

[Anderz]

Both blue collar and white collar jobs are being replaced by automation. Even companies themselves may be replaced by so-called Decentralized Autonomous Organizations:

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"A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.[1][2] A DAO's financial transaction record and program rules are maintained on a blockchain.[3]:229[4][5] The precise legal status of this type of business organization is unclear.[6]" - Wikipedia

But one thing that I came to think of is that even the replacement of jobs, companies, organizations and maybe even politics is something that will happen exponentially. This means that very little happens in the beginning and then later the change is getting faster and faster. Ray Kurzweil has shown with what he calls the Law of Accelerating Returns that all of evolution, not only technology but also biological evolution, follows that kind of accelerating curve, such as the graph below showing the time between major paradigm shifts in earth's history:

Edited December 25, 2020 by Anderz

[Anderz]

Another thing Ray Kurzweil has said is that even though the change is accelerating we humans are very quick to adopt new technologies and then take them for granted. Take the internet for example. Before the days of the internet people read paper books and newspapers. People still do, but people also still use landline phones.

Someone said that only the wealthy people will get access to advanced technologies. Ray replied: yeah, like cell phones. He explained that only the power elite could afford the early cell phones which didn't work very well. Today poor people in third world countries have cell phones with a capacity that far exceeds those early and very expensive mobile phones.

Because even the price/performance improves exponentially it's true that new technologies tend to be expensive but then later they get cheaper and cheaper. And when one paradigm runs out of steam, a new paradigm replaces it which continues the overall accelerating trend. The price/performance trend is actually towards zero! So what kind of capitalism can be based on zero profit?

[Anderz]

Will there be significant so-called technological unemployment, jobs replaced by automation? Many experts say, no, and even Ray Kurzweil says that we will invent new jobs to make up for the jobs that are replaced. That may be true for say the next 20 years, but after that I believe it will be difficult to keep up with automation due to the accelerating progress of technology. Heck, I wouldn't be surprised if we had 50% unemployment already after 20 years, but we will see.

I think Andrew Yang is correct, at least in the long-term scenario. Is a universal basic income (UBI) a solution? No, I don't think it solves the problem long-term, however as a temporary transition tool a UBI might be necessary.

 

[Anderz]

One interesting idea that might be difficult to implement one expert said, is a robot tax that Bill Gates has talked about. Bill Gates says that it will slow down automation and that could be a good thing I think, not as a Luddite perspective lol, but to smooth things out and to prevent rich people from getting richer by being first to utilize automation. In the long run I think automation will destroy capitalism but in the short run automation may benefit wealthy capitalists most, which can be prevented by having a robot tax.

 

Edited December 25, 2020 by Anderz

[Anderz]

Hmm... Interesting, I found this video about capitalism in decline. Maybe it's better to think of it as capitalism declining instead of it getting obsolete. Like a bell shaped curve where capitalism has reached its peak and is now starting to slide down. An indicating of this is all the desperate monetization schemes on the internet, where even video games are using all kinds of micropayment systems which it's questionable if it actually improves the games or is just a means of getting more profit for the gaming industry. Leo mentioned something similar in one of his videos about games getting these kinds of payment schemes.

 

[Anderz]

Another thing many people complain about yet it's also often taken as something normal is the insane difference in wealth distribution in the world.

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"Global inequality is growing, with half the world’s wealth now in the hands of just 1% of the population, according to a new report.

The middle classes have been squeezed at the expense of the very rich, according to research by Credit Suisse, which also finds that for the first time, there are more individuals in the middle classes in China – 109m – than the 92m in the US." - The Guardian, 2015

So I think a decline in capitalism is necessary, as long as the prosperity can be maintained. And with exponential progress of technology and price/performance prosperity will increase, and also very importantly, over time poverty will be eradicated.

[Anderz]

The absurdities of capitalism have also been described in relation to late-stage capitalism.

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"Late stage capitalism is a popular phrase that targets the inequities of modern-day capitalism. It describes the hypocrisy and absurdities of capitalism as it digs its own grave.

It spotlights the immorality of corporations using social issues to advance their brand. An example is Budweiser spending $5 million on a Superbowl ad to advertise how it donated millions of cans of clean water for disaster relief efforts.[1] Another example is Starbucks' #racetogether campaign.[2]

Characteristics of Late Stage Capitalism

Late stage capitalism describes the unrealistic perspectives of the wealthiest 1%. In the same vein, it highlights how the middle class is largely oblivious to the struggles of the poor.

It's the sense that monopolies, and the oligarchs that run them, have rigged the system in their favor. They hired well-paid lobbyists to influence politicians. They won Supreme Court cases, such as Citizens United v. FEC (2010), that give corporations the same rights as people.[3] This allows them to spend untold millions on political ads that benefit them.

Many feel that capitalism's winners may even favor inequality. With it, they have fewer competitive threats. They "rig the system" by creating barriers to entry. They send their children to private schools while cutting funds for public schools.

There is a sense that the U.S. income inequality created by capitalism is unsustainable. It's a prelude to a more equitable way of life. That includes animals, plants, and the natural world as well.

For this reason, many who use the term late stage capitalism believe the next phase is socialism. Most agree the new system could include universal basic income. It would subsidize those who lost their jobs to technology. At the very least, the new system should include universal health care. The United States is the only developed country without it.[4]" - The Balance, Oct 28, 2020

I think balancing capitalism with socialism is useful, but even that's insufficient in the long run I suspect. Instead think of removing the need for money in society made possible by massive automation. That's a whole different kind of society! It transcends both capitalism and socialism because all practical tasks are done by machines. It's hard to even imagine how that would work, yet that's what will happen within just a few decades I predict.

[Lindsay]

@Bojan the digital economy, gig economy, 

like video games? Get paid to stream live!

like podcasts? Get paid to speak! 

like to ? think? Get paid to solve puzzles!

like engineering? Get paid to design!

like marketing? Get paid to be an influencer! 
 

what's your talent? Get paid to use your talent! 

[Lindsay]

I’m not grounded in fear. I’m grounded in love. I surrender my fear and I’m ready to embrace love. God is love. DOG is God backwards and Dog, God, Love are interchangeable. It’s basic algebra. Principle of algebra. Western world is dumb in math cuz they don’t embrace both divine masculinity and Devine femininely. Never give up! If you do anything make sure it’s in the name of love! Chivalry is not dead. God is not dead. Autism speaks. Biological chemical organic algorithms. That’s what our brains are. Visual story teller. Senses . Public education is the best education free hand of formation. Fuck the free markets. Cuz we are the renegades of funk lmfao ? I havnt slept in 7 days. Am I psychotic? I’m asking for a friend lol. Na, it’s just me. Authentic me. Minding my own god damn business. Please don’t let Qanan assassinate me or some shit like that. I’m not ready to die. I have a lot of helping to do. I’m a valuable piece in the game of chess. The queens gambit. I speak in riddles. I speak in puzzles. Is it word salami? Or word salad? What is word salad? What is? Basics here. Michael here. YouTube algorithms programmed my brain ? isn’t it grand! It broke down my barriers man. “Sapiens” game changer. Big history, game changer. Story telling. Game changer. Spiral dynamics game changer. Noam Chomsky manufacturing consent game changer Slovaj Zizek game changer. Manipulate the manipulators Manx free love ❤️ learn the lingo of the hippies man. LeRn the slang. Chicago. The best city around. A beautiful ? experiment. An alien experiment. A divine experiment. If you live to dance than dance. Law of attraction. Merian Williamson, learn to think. Neil Degrasse Tyson? Black astrophysicist. He’s a woke ass ? of a bitch. #woke #ForceTheVote #radical acceptance #stop resisting #learn the language of the generation, #zietgiest #23&me #Surveillance and hivemind are not dangerous ideas. #stop corruption through Transparency. #be open minded #respect the other side 

[Anderz]

Wow, driver-less cars are already good enough in some areas, I found this:

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"Hong Kong (CNN Business) The world has been inching toward fully autonomous cars for years. In China, one company just got even closer to making it a reality.

On Thursday, AutoX, an Alibaba (BABA)-backed startup, announced it had rolled out fully driverless robotaxis on public roads in Shenzhen." - CNN Business,  Dec 8. 2020

This automatic restaurant is almost scary, haha, but think of it as the game Pong and what will happen within a few years.

 

[Anderz]

Amazing, Waymo, formerly the Google self-driving car project, also has self-driving cars in real use. I guess I was wrong about how fully automated cars would be difficult to make a reality!

Quote

"Last weekend, with surprisingly little fanfare, Waymo revealed it had passed a major milestone and opened up their really true full self driving taxi service(*) in the Chandler, Arizona area to the general public. This means that similar to the way you use Uber UBER -1.5%, anybody can download the app and summon a ride, which will today be done with nobody else in the vehicle." - Forbes, Dec 9, 2020

 

[Lindsay]

Locate me, locate me, locate me. I REPEAT.... LOCATE ME. See me. Look at me. Americans are narcasists. They think they have it all figured out. No telling them how to feel. Only you can tell you how you feel. Don’t let others project their meaning onto you. It’s just a label. The principles of math. In an emotional witch doctor of the 21st century. #I’m not heard. Let me rephrase that! I don’t FEEL heard, I FEEL invalidated! Invalidation causes anxiety and fear inside of me. #I think I’m bipolar, #I think I’m borderline personality disorder #I think I’m autistic # I think I’m schizophrenic. #i think I have complex ptsd. #i get it now # boomers fell behind #no child left behind #george bush #word salad # Solve my puzzle ? # I think I’m mentally ill ??????????????????????????

[Lindsay]

#2D thinking ? 

#4D thinking ? 

#introverts come together and rise up

#wake the fuck up

#if you see this, I love you

#if you see this I bless you

#if you read this I understand you

#am I ADHD?

#MakeAmericaTrustAgain

#MakeAmericaLoveAgain

#MakeAmericaFreeAgain

#Laws of attraction

#am I a highly sensitive child?

#I have abandonment issues

#attachement styles

[Lindsay]

#if you see this help me cuz I’m going off the deep end here.

#misunderstood

#childhood-vows

#toxic family dynamics 

#im lonely ? 

#in the realm of hungry ghosts 

#SOS

 

 

 

[Lindsay]

#im the Jesus Christ super star! With a twist. lol ? antichrist superstar marlin Manson is brilliant and tragic. Nialists unite. 
 

 

feeling  defeated and disappointed ? narcissistic wound hurts like hell. It kills the body. Im 450 pounds. I thought I was repeating the cycle. I just had to break out of the cycle to see clearly. But the people I love pull me back. And they are mulling me softly. #beegees? Not the 70s disco group. Oh yeah the fugees. strumming my pain with his fingers

Edited December 25, 2020 by Lindsay

[Lindsay]

Poems* children love music and art. I wonder why thinks in incubus science lol gotta love incubus evolution 

[Anderz]

"Edward Knight, vice chairman at Nasdaq, says the U.S. is leading the competition in artificial intelligence, but the government needs to get more involved." He also said that artificial intelligence will change the economy in much the same way as electricity did in the 20th century.

With self-driving cars already a reality combined with fierce competition in AI development I expect much change to happen in society already within 10 years. And here Dr. Eric Weinstein talks about how none of the isms (capitalism, socialism etc) is able to handle the complex systems that are emerging.

 

[LfcCharlie4]

On 12/24/2020 at 6:01 PM, Progress said:

@LfcCharlie4 There are several issues with these other asset classes.

Real Estate= Often very expensive and not accessible to at least 20% of the population and many do not qualify for loans. There are of course Real Estate Investment Trust, however these are literally sold as stocks which this policy would outlaw. Also real estate is the least liquid asset class out of the rest, making it much harder to sell than a stock.

Crypto= Extreme volatility and despite being theoretically liquid, the extreme volatility essentially has an extreme punishment for selling when the crypto is trending downwards which happens much more often than stocks generally.

Precious Metals= Often very stagnant investment and really only growing in value during an economic downturn. More of a store of wealth than an investment to increase it. 

 

Furthermore employee only companies would lead to extreme concentrations of wealth by employees who work at the largest firms with nonprofits and government workers getting fucked over, along with previous shareholders of companies. Most retirees would have to get back to work.

 

Good points. 

How do we balance this while removing the corruption? 

[Anderz]

Another Pong analogy is for 3D printing. Pong was one of the first video games, extremely crude with just a few clunky pixels on the screen.

And here is a small company using 3D printers to make shoes. I think of the early video games as an analogy for where 3D printing is at today. 3D printing will get cheaper and cheaper and at the same time get better and better. The combination of 3D printing with AI, robotics and later nanotech will at the very least change a lot of how capitalism functions.

 

[PepperBlossoms]

Crypto and Stock Market - stockpile money, nothing is done with the money, no incentive to take it out because it gets larger as it sits

Bank - lose money as government prints more money, incentive to transform it to something else

Business/Resource - not actual money, must be traded for money

It seems that the way things are, the people with lots of money just stockpile it and nothing gets done with it.  Government has to keep on printing more money to have money to use.  The government could either A - keep printing money, or B - tax the accounts that have the money past a certain limit to get it back to get it implemented as well as just increase taxation in general, or C - have large public infrastructure to where any profit made stays in the system and gets used by the system for other things rather than just sitting unused in an account

The idea of working as an employee for a private company can be a downer because all of the profit tends to go to one person where it just piles up in their account.  If people all mostly worked for the government which ran everything, then all gains would be for everyone (ideally) and not a few.  Would want to eliminate wasteful practices and have good planning, transparency, thinking, etc.  

If we allowed private companies to still operate, we may want to allow for more people to have the opportunity instead of one group winning/dominating at the expense of others..(but I can see at how the one group could just be way better than all the others but that there can also be a benefit to having multiple companies instead of just one).  I can see though that private companies may have a drive for something new and unique that the government may be too hesitant to go for... unless government was less hesitant and was open for funding new things...