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+ - Technocratic Feudalism the Next Stop?->

Submitted by Anonymous Coward
An anonymous reader writes "Krugman waxes philosophical about his disappointment in policy makers, "So how does this end? Here’s a depressing thought: maybe it doesn’t. ... First of all, I think many of us used to believe that sustained high unemployment would lead to substantial, perhaps accelerating deflation — and that this would push policymakers into doing something forceful. It’s now clear, however, that the relationship between inflation and unemployment flattens out at low inflation rates. We can probably have high unemployment and stable prices in Europe and America for a very long time — and all the wise heads will insist that it’s all structural, and nothing can be done until the public accepts drastic cuts in the safety net."

Yet, with his other articles on technology being a boon to capital that will be lost by labor, one has to wonder if I-pad waiters and waitresses, automated cars and trucks, assembly line luke arms, and robot butlers really are narrowing down what us meat bags can get paid a decent wage to do. Maybe after centuries of no need or capability for advancement we can have another enlightenment."

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Technocratic Feudalism the Next Stop?

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