Post
Topic
Board Economics
Re: Has DeepSeek burst the US tech bubble?
by
Free Market Capitalist
on 29/01/2025, 08:34:12 UTC
Maybe I'm getting old, but I see more and more human interaction being replaced by machines, and I don't think that's a good thing. Personal contact is replaced by messages on a screen, paying in shops is replaced by doing it yourself on a machine, working from home through machines, getting cash from machines, the list goes on and on.

Like yourself for the last 10 years on this forum, you mean?

That's an interesting one: what's the point of increasing productivity if it only makes a few people much richer? I'm thinking of this graph:
Image loading...
(source) (there are newer versions of this graph, but the ones I found don't work through the forum's image proxy)
I know one thing: that's not making your country any better! It leads to "the working poor", while some people get richer than anyone has ever been before. So if productivity keeps going up but more and more people have a hard time in affording the basics like housing and even groceries, something's not right. And I don't think AI is going to make that any better.

To begin with, a poor person in 1964 was much poorer than a poor person in 2025, who has more access to much better goods and services.

Also, I would not put the beginning in 1964, but rather in 1971, which is where money became completely fiat, a system which led to the creation of bitcoin as an opposition.

I'm not willing to accept our machine overlords Tongue

They are as overlords as you internet connexion, your cell phone and your bitcoin.