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Sorry, but I just don't think I understand how this post drew such a conclusion. What does decreasing marginal consumption have to do with this? If the argume
by CoreDumpling 16y ago
Sorry, but I just don't think I understand how this post drew such a conclusion. What does decreasing marginal consumption have to do with this? If the argument here that all those fabulously rich people are content with wasting their time on Facebook, I'm just not buying it.
Technology, while a potent equalizing force, is also a moving target, and it's one that depends on creative input much more than an infinite supply of cheap labor. Even if we have a post-scarcity society by 2025, I don't see any reason why the "elite" will not have access to some expensive, difficult-to-produce, meticulously customized product or experience that is coveted by people without it.
EDIT: Seems like someone changed the submission to point to the linked article. My point seems less valid now, but I would still maintain that creative activity will not be cheapened as much as Mr. Bookstaber seems to think.
- qq66 16y agoI went to business school where some of my classmates were from "fabulously rich" families (multiple $billions). Many of them spent a lot of time on Facebook (I would never call the way someone chooses to spend their time a "waste.")