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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Macroeconomic Trends & Risks
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Author: tjscott0   😊 😞
Number: of 4582 
Subject: Income Inequality & AI
Date: 04/08/26 12:05 PM
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No. of Recommendations: 4
nytimes.com - AI wealth inequality jobs investment
We Are Witnessing the Rise of a New Aristocracy

2 take aways:
1) Inequality is such a fact of American life that it’s easy to shrug off. But we are in uncharted terrain. The amassed wealth of today’s tech titans makes the Rockefellers and the Vanderbilts look quaint. Over the past two years, 19 households have added $1.8 trillion to their coffers, the economist Gabriel Zucman told me — roughly the size of the economy of Australia.

*For any society in which this much wealth gets concentrated in so few hands, and is then so easily parlayed into political clout, the question becomes one not just of economics but of basic civic standing. At some point soon, we are no longer sharing in self-government.

AI will facilitate a repressive surveillance and security state to keep the plebes on a leash.

2) In truth, whether A.I. will lead to widespread job loss remains guesswork.

The author speculates & offers opinions of others. But in essence #2 remains guesswork.
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