Sunday, October 25, 2015

Paul Mason on the future of capitalism

Some highlights:
*Capitalism has dominated for 500 years, now it is broken beyond repair.
*The third industrial revolution is NOT: low paying jobs, Uber, or creating hipster coffee chains. *45% of all jobs today will be made obsolete by technology within 30 years
*Moving forward means replacing work with machines in a jobless future
*The correct price for Information goods is zero, all corporate strategy today is about preventing that, 1) by creating artificial bottlenecks 2) getting government to prevent this with IPR and threats of prison, etc.
*IPR will have to cut back for the next industrial revolution to take place
*We need to re-design our institutions to move forward, only government policy can do that.

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