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medialAxis"If the machine owners do not pass on most of the cost savings, then their machines need to be taxed to support general society."Yes. AISI, if their proportional gain is greater than the workers then over time, with further gains in productivity, the gap between machine owners and workers will widen...

5 days ago

SimonVery good point David. In theory, extreme automation should reduce the cost of everything so less money is needed. If the machine owners do not pass on most of the cost savings, then their machines need to be taxed to support general society. Maybe land value taxes need to be considered, and restrai...

5 days ago

medialAxisHere's a very simple puzzle about increased productivity I've posted elsewhere:The 100 villagers work in the fields earning £40/wk (£1/hr) with which they buy the crops they grow and convey to the market each week. They decide to fix the potholed roads and for 5 of them to maintain them full time....

6 days ago
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Lucian AerisSpot on....

6 days ago
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SimonOften because they have to, it is the main way money currently gets into the economy....

February 2017

Sumal RajWhy do people borrow? does people borrow just because the interest rates are low.,,,...

February 2017
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ConradJonesWe have a perfect opportunity in our History to make the transition from Private Bank created money system to a public created money system as we have the expertise of the Bank of England which is publcily owned and it is clear that the transition from 20% publicly created money system (1950s and 19...

January 2017
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