> Who will buy the phones when no one is paid to produce them? The cars? The food and the clothes
The headline last week was that the top 10% now accounts for 50% of consumer spending [1]. As that trend accelerates, the economy will reconfigure to focus ever more on selling goods and services to a smaller, wealthier group of people.
This trend is already visible in many service-oriented sectors (i.e. concierge medicine, private membership based ski resorts, etc).
Exacerbating wealth inequality is the objective with which these technologies are being deployed, even if it's not the objective with which they are developed by engineers and scientists.
The headline last week was that the top 10% now accounts for 50% of consumer spending [1]. As that trend accelerates, the economy will reconfigure to focus ever more on selling goods and services to a smaller, wealthier group of people.
This trend is already visible in many service-oriented sectors (i.e. concierge medicine, private membership based ski resorts, etc).
Exacerbating wealth inequality is the objective with which these technologies are being deployed, even if it's not the objective with which they are developed by engineers and scientists.
1. https://www.wsj.com/economy/consumers/us-economy-strength-ri...