The Productivity Scam
The concept of productivity is probably the most cherished principle in textbook economics. It’s easy to blindly accept the general principle that national productivity is good, which is why politicians and corporations focus citizens on GDP as the primary measure of a nation’s prosperity. However, what they almost never to tell you is this: “Productivity” is completely irrelevant to a society if the wealth generated from the productivity is concentrated at the top of the wealth distribution. The chart below shows this is exactly what has happened in the U.S. economy.
Where is the Wealth Going? If income flowing to the general population has been stagnant for decades, where is all that GDP wealth going? Why isn’t the general population participating in the prosperity produced by their own labor? This is the essence of why “productivity” has been the most sinister scam in the field of economics. It completely ignores the distributional affects that labor, trade and tax policies have on the actual wealth of a population. If a population actually has negative net wealth because over 80% of the population is drowning in debt just to exist, then the economy is not allocating wealth equitably or efficiently; nor is it delivering a high quality of life to citizens.
A.I. Amplifies the Productivity Scam. The concept of “productivity” was already dubious as a benchmark for national prosperity, but in an era of A.I.-dominated economies, “productivity” is an even more sinister scam. Predictably, A.I.-enhanced productivity is already being pushed into the workplace by giant A.I. product companies like Microsoft, Amazon, Google and Facebook. This is forcing corporate executives throughout the economy into an A.I. arms race to jump on the bandwagon to avoid losing market share and profits to competitors. Of course, they will never admit that this “productivity” is simply amplifying the grossly inequitable wealth distribution illustrated in the chart above.
Escaping the Productivity Scam & A.I. Domination. The only way to escape the productivity scam and corresponding A.I. arms race is to opt-out of the fiat currency system, base your economic activities on a currency that is inherently resistant to A.I. domination, and build cooperative economic communities and networks that do not depend on A.I. to deliver your goods and services. The only cryptocurrency that is inherently resistant to A.I. domination is the Gini currency; so, we hope you’ll give it a try.
See also: The Death of Economics
Gini is doing very important work that no other organization is willing or able to do. Please support us by joining the Gini Newsletter below to be alerted about important Gini news and events and follow Gini on Twitter.