Wednesday, 19 February 2020

How technology fixed inequality

"Everyone standing around wondering why the work hasn't disappeared is missing the point that it actually has, just not in the way they expected. Modern career women, gloriously, are off working on interesting things because they don't have to stay home to boil the washing then run it through a mangle like their grandmothers did.
    "This also gives away the lie of the supposed inequality of it all.
    "Almost every household, not just the rich, has enjoyed these technological innovations and the increase in leisure they’ve brought. Back then, the rich had servants to do this hard labor, and the poor had to do it themselves. Now all have washing machines. The replacement of that human work with machines has been one of the great reducers of inequality this past century."

~ Tim Worstall on how AOC's latest economic blooper actually stumbles upon a grain of truth 

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