RE: A Tsunami Is Brewing And Few Are Paying Attention!!!!
I offer the following for counterpoint. The gist is that productivity growth has been slower in the last 10 years or so than during the golden years of 1940 to 1980.
http://cepr.net/blogs/beat-the-press/job-loss-in-manufacturing-more-robot-blaming
Even if automation prevails, the distribution of wealth from productivity gains due to automation are a matter of public policy, not necessarily a reflection of how the markets work.
I am hopeful that cryptocurrencies and other technologies are allowed to provide for a wider distribution of wealth so that more of us may prosper. I have taken a particular shine to you "age of abundance" theme (just think "presearch" and "manna"). I think that efforts such as those are going to be next to impossible for public policy to circumscribe.
The millennials are growing up and finding their political power and voice. When the old guard dies off, it is possible that the Protestant work ethic, fixated on reward and punishment, may die off, too. In such a political climate, it is possible that a more compassionate and equitable public policy regime may take hold.
One can hope, right?
Yes we can hope.
I agree that the millennials look at the world in a totally different way than the previous generations. The older crowd dying off will offer a different voice.
Once factor in all this is, in the US, the second half of the baby boomer generation is ill-prepared for retirement. How will that affect their viewpoint? And what will another bankster created crash do to the psyche of people? The last one, fueled by real estate, cut deep....
Absolutely. One can hope that