The recent HN article on meritocracy comes to mind.
I had never considered it this way in the past, but in the 70’s, productivity started decoupling massively from productivity gains.
I.e. the best people at finance (meritocracy) figured out how to capture all the new earnings relative to the workers (who didn’t know this game was going on).
This has snowballed into a situation where the financial meritocracy is competing with itself and could now never imagine a situation where non-finance people are being paid more in proportion with their value relative to baseline productivity gains.
This article would fit that narrative as a symptom of one-upmanship gone amuck.
How do we exit this brutal cycle? It requires a generation of new blood that is actually concerned about societal stability and recognizes the connection between instability and leaving 99% of folks behind as games are fought in ‘the ivory cloud’.
Will this be dealt with sans revolution? Who knows...
I had never considered it this way in the past, but in the 70’s, productivity started decoupling massively from productivity gains.
I.e. the best people at finance (meritocracy) figured out how to capture all the new earnings relative to the workers (who didn’t know this game was going on).
This has snowballed into a situation where the financial meritocracy is competing with itself and could now never imagine a situation where non-finance people are being paid more in proportion with their value relative to baseline productivity gains.
This article would fit that narrative as a symptom of one-upmanship gone amuck.
How do we exit this brutal cycle? It requires a generation of new blood that is actually concerned about societal stability and recognizes the connection between instability and leaving 99% of folks behind as games are fought in ‘the ivory cloud’.
Will this be dealt with sans revolution? Who knows...