All true re specialisation.
But the global population is still rising, its just that purchasing power is less and less evenly distributed, because governments are redistributing more and more and distorting markets to breaking point.
Automation is neither the problem nor the solution...
Yes, but it's rising in an age where mechanization is on steroids. You can watch the Chinese producers struggle with their highly-efficient factories, to produce smaller numbers of products. It isn't possible. They have to flood the market with produce and destroy their own price point, or just throw half of the production into the furnace.
Same with German cars. Producing all of these cars for fewer and fewer drivers because the world population is still rising, but fewer of them are young or have families. Even building smaller cars won't solve the problem of the lack of drivers. So, it's less about the size of the population and more about the age-distribution through the populace. That's why the growth will suddenly reverse, when the oldest generation dies off en mass.
Back in the 1700s, ruthless algorithms had a different name. They called them Rationalism—and the whole Western world was under the sway of the Age of Reason. But like today’s algorithms, the new systems of the Rationalists attempted to replace human wisdom and experience with intrusive and inflexible operating rules.
It didn’t work.
“This rationalistic philosophy, which had been expected to solve all the problems, had failed to rescue society from either despotism and poverty,” explains Edmund Wilson in his masterful study To the Finland Station.
“The mechanical inventions of which it had been expected that they would vastly improve the lot of humanity were obviously making many people miserable,”
Ted Gioia > https://open.substack.com/pub/tedgioia/p/we-really-are-entering-a-new-age
Yes, but only for a time (next two decades, is my guess). With the boomers continuing to die out, automation settling in, and the purchasing power of fiat currencies declining 2-3% on an annual basis, future generations won't be able to afford to raise a kid or support a family; hell, more and more people aren't even able to make rent or mortgage payments.
Also, it isn't just about liquidity redistribution. Newly printed money (or digital monetary issuance) misallocated into unproductive goods and services and nations' black budgets have severely crippled our ability to determine accurate foreign exchange rates. In short, it's all bullshit. They feed us only half the info, in hopes that we'll turn a blind eye to everything going on behind the curtain.
