Perhaps a bit over the top, but you have a point to make. However, the trends and the changes are not going to stop. As always, it is impossible to stop the flow of changes, even if change ≠progress. We will get new apps. We will get more robots. We will get more algorithms. We will get more imbedded AI, and also many things we cannot even imagine.
One flaw in your thinking is that the top 10% will continue to get almost all of the money. Really, it’s the top 1%, and that can’t last because, like Citibank and PayDay Loans, they make their money from exploiting the poor. It’s very expensive to be poor.
If the poor run out of money, then the rich will begin to eat themselves, and then we will be down to the top .001%
This is not new. The rich have exploited the poor for centuries. It’s just now that the awful, exploitive jobs that the rich needed to poor to perform, can almost all be done by machines. Instead of being exhausted from working in factories and mines the poor are left to fend for themselves and play video games — if they can pay for the wi-fi.
You offer no solution. I can see that variations of three things will happen:
- The U.S. will end up like India, with a few very rich, who have many servants and body guards, while many beggars fill the streets.
- There is the old solution of wars being fought to take resources from other countries, while diminishing the number of poor by using them as soldiers.
- We revise the tax code, perhaps implement a twenty hour work-week (Amazon is now moving to thirty), And then, really, when all of the people in Congress have changed, and people realize that we live in a new world, we institute a guaranteed annual income. Give people enough money to live a decent life, just for being alive. Then the rich can find new ways to suck up all that money. But, if they have to pay their taxes…….
Actually, there is a lot of evidence that shows that just giving people money works a lot better than welfare, job training, talking about “responsibility” and attacking immigrants. To explain that will take a whole different post, that I will put up soon. There are several sources that do a pretty good job already.