1533. The benefits of Tech and economics

If we are going to get the benefits of new technology we need to understand the way investment in tech is treated cynically, making profit in the short term with other people’s money, with federal guarantees that are backed by taxpayers. The technology people act as if it is all socially positive investment, but knowing that it is part of the upward escalator for the concentration of wealth and the creation of the surveillance state. Technology is leveraged against the commons. Why does society allow, or create, the possibilities for a few young people like Brin, Page and Zuckerberg, or Tim Cook, to suddenly have billions (a billion is a lot of money) when all they have done is in an obvious way (not quite obvious but close) coordinate resources paid for by citizens of a booming population. The general taxpayer and the creativity of millions provided over generations the resources the few benefit from, through regulation, taxes, lawyers and corruption. Those few did not pay for the population nor the education and infrastructure, of scale of the culture, and tech provided by the military? It really is destructive as democracy morphs toward oligopolies. The dynamics of such a destructive economy and the thought that informs what we think an economy is, will have to change. Maybe not to throw out much, but to add a lot. Note that the result may not be such a difference in thought and concept as in balance among concepts: higher taxes, shorter period for copy-write, public ownership of the commons, and smaller military budgets.. In any case more accurate modeling and narratives will be necessary, and a is real opportunity for economics.

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