stacksatsio on Nostr: I’ve got Turchin in my book pile for next year so can’t yet comment on that ...
I’ve got Turchin in my book pile for next year so can’t yet comment on that theory specifically, but I’ve posted about similar before:
And whilst you’re right about wages not being a great proxy for productive value to society, it being heavily skewed by financialisation (all the best minds go to Hedge Funds instead of working as engineers) and regulation (McKinsey et al creating industry around Gov policy), that wasn’t my point.
My point was that if you want productivity to grow then you want the one earning $300k to have more of that pie available so they can go and be entrepreneurial.
Most people think of people like Zuck starting FB out of a dorm when they think of entrepreneurs - they think young guys with little behind them. In reality most entrepreneurs are 30-40 who have accumulated enough wealth, experience and knowledge that they can branch out on their own to start something with their capital.
Taking half their shit away from them every year makes it less and less viable for these people to flip from employee to entrepreneur because they can’t accumulate the capital needed to start, they’re stuck living comfortable upper middle class lives as wagies but can’t take that next step which would actually be much more beneficial to broader society.
quoting note14hd…56egThe graphic says “American” Class Hierarchy but this applies to Aus, NZ, and Canada. Europe is getting this way but has more entrenched old money.
Bitcoin will create a new financial Counter Elite. That will set Bitcoiners at odds with the Establishment Elite which controls institutions and politics and who will use both against this insurgency to protect their powerbase.
If Bitcoiners ever want to become the Establishment Elite (and no I don’t mean becoming the parasites, I mean being the elite class of society to whom lower levels look to and aspire to join) they will need to do something with their newfound wealth.
Utilities is the path. Control the utilities (energy in particular but water and internet too) and you’ll pull the people to the counter elite orbit who will abandon the current parasite class for a better life with the new Counter Elite at the top of the pyramid.
And whilst you’re right about wages not being a great proxy for productive value to society, it being heavily skewed by financialisation (all the best minds go to Hedge Funds instead of working as engineers) and regulation (McKinsey et al creating industry around Gov policy), that wasn’t my point.
My point was that if you want productivity to grow then you want the one earning $300k to have more of that pie available so they can go and be entrepreneurial.
Most people think of people like Zuck starting FB out of a dorm when they think of entrepreneurs - they think young guys with little behind them. In reality most entrepreneurs are 30-40 who have accumulated enough wealth, experience and knowledge that they can branch out on their own to start something with their capital.
Taking half their shit away from them every year makes it less and less viable for these people to flip from employee to entrepreneur because they can’t accumulate the capital needed to start, they’re stuck living comfortable upper middle class lives as wagies but can’t take that next step which would actually be much more beneficial to broader society.