The average human has gotten more and more skilled and capable throughout history.
We certainly change with time. Convince me that literacy is important, and memory isn't. Remember, 2500 years ago the Odyssey was a story told around a campfire, and today people can't recite a single line of it if their Kindle runs out of battery. I'd propose that we are better adapted to our time than a feudal lord is, and that our odds of survival are lower than the average peasant if dropped into his time.
It does not require "blind faith" to believe that the tomorrow will be more-or-less like today.
Have you visited Colorado? The weather changes every 15 minutes, nevermind this "tomorrow" business.
The world is different, the economy is different
Basic economic principles apply just as much today as they did in the past.
But the economy is different. In America, there are both men and women in nearly every profession. 100 years ago, far more women were homemakers. People rarely moved out of state for college and then across the country for work. And as for (our understanding of) economic principles, they've certainly changed in the past 100 years. Keynes, Friedman, stagflation, supply-side economics. Shall we continue?
corporations are larger and more powerful
No they aren't. A century ago, the largest corporation, Standard Oil, was 2% of the economy. Today, the largest corporation, Apple, is a tiny fraction of that. Concentration of power in corporations has greatly diminished.
The makeup of the economy has shifted significantly. Work that used to be done within the family is now outsourced. For example, most people buy most of their food, rather than growing it. 100 years ago, childcare was not the giant industry that it is today. 100 years ago, the majority of Americans lived in rural areas; now they live mostly in cities. Because of these and many other changes, I don't think Standard Oil vs Apple is a relevant rebuttal.
we have globalization.
As a percentage of the economy, international trade was higher in the spring of 1914 than it is today. Two world wars and a great depression changed all that, but today's globalization is not new.
Citation please? https://ourworldindata.org/int... pegs 1914 international trade around 30% of world GDP and over 50% today.
How could you not think this time will be different?
I don't see any reason to believe that "this time is different", and I also don't see any evidence. What is happening today is just an extrapolation of trends that started centuries ago.
If today is simply an extrapolation of trends, then the future should be easy for you to predict, and you should be an incredibly wealthy individual.
GMOs have not been shown to cause harm and have higher yields which increase supply.
And with what do they increase the supply? If the soil in which the crop grows has the same level of trace minerals, an increased supply means a decreased mineral content for your GMO product. In some cases, industry documentation has perceived this as an advantage: you'll have to eat more to get your nutrients! You can increase the supply of soup forever if you just add water
No, the reason that property can be such a good investment for individuals is the opportunity for leverage. I put down only a few thousand dollars (5%) on my house when I bought it, yet its increase in value is very large (several hundred thousand dollars). Of course, with leverage comes risk. Many people lost out dramatically in the recession when house prices dropped. My house value never droppped below its original purchase price.
And that risk has burned some folks significantly. I know folks who bought property with a 5/1 ARM, planning on moving before 5 years, or refinancing if they stayed. Four years into it, they hit the recession, couldn't sell their place, were underwater and unable to refinance, and saw their interest rate rise at the same time. They took a risk -- they're better now, but it was tough for a while.
Expect computations to keep doubling this your key that takes a year to crack will take a few hours in the course of a few days in the next decade.
Not to worry; I'll change my key several times before then.
"Floggings will continue until morale improves." -- anonymous flyer being distributed at Exxon USA