Replying to Avatar Jeff Booth

Prices falling to their marginal cost of production does solve. Just hard to see from our existing system that dominates your view.

You don’t pay for the air you breath - why not? Marginal cost of production is zero - except in space or underwater where marginal cost is higher to service that air.

As jobs are replaced, prices fall naturally allowing people more for less which is the entire point of technological progress.
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Aurelius 2y ago đź’¬ 1

Karl Marx went deep into this argument. He believed that technology would free laborers from the constraints of capital by enabling them greater productivity and consumption with less work. That didn’t turn out to be the case. Capitalists controlled the technology, so they pocketed the value difference created by it, and just had laborers working for less money.

The people will only gain from the growth in productivity if those gains are not co-opted by our masters. The masters’ plan is to use the technology and make the workers obsolete and destitute. The jobless and poor are the easiest to control.

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Bhodlr 2y ago

You hit the nail on the head! With bitcoin our masters can’t co-opt the gains because in a currency with a fixed supply, the productivity gains go down to the workers via the increase in purchasing power. Power is taken away from the elites. Capitalists can still control their capital equipment but they can’t control the economy. The protocol controls the economy to benefit everyone!