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Gates Warns of Software Replacing People; Greenspan Says H-1Bs Fix Inequity

dcblogs writes "Bill Gates and Alan Greenspan, in separate forums, offered outlooks and prescriptions for fixing jobs and income. Gates is concerned that graduates of U.S. secondary schools may not be able stay ahead of software automation. 'These things are coming fast,' said Gates, in an interview with the American Enterprise Institute 'Twenty years from now labor demand for a lots of skill sets will be substantially lower, and I don't think people have that in their mental model.' Meanwhile, former Federal Reserve Chair Alan Greenspan believes one way to attack income inequity is to raise the H-1B cap. If the program were expanded, income wouldn't necessarily go down much, but it would go down enough to make an impact. Income inequality is a relative concept, he argued. People who are absolutely at the top of the scale in 1925, for instance, would be getting food stamps today, said Greenspan. 'You don't have to necessarily bring up the bottom if you bring the top down.'"

516 comments

  1. Greenspan's right by Coop · · Score: 4, Interesting

    People in all societies get their ideas of what's necessary, and what's enough, and what to buy, by looking at the people around them and comparing it to their own situation. The don't use any kind of empirical or absolute measure, unless they're chronically hungry or in similar dire straits.

    --
    "If you're not passionate about your operating system, you're married to the wrong one."
    1. Re:Greenspan's right by gnoshi · · Score: 5, Insightful

      Extending on Greenspan's idea, you can reduce inequity by having the top 0.01% take all the money from the remaining 99.99%. All that demonstrates is that having low inequity as your sole target is stupid.

    2. Re:Greenspan's right by plopez · · Score: 1

      How does marketing and advertising impact this?

      --
      putting the 'B' in LGBTQ+
    3. Re:Greenspan's right by AlphaWolf_HK · · Score: 4, Insightful

      One perfect example of this I see on a daily basis is the expectation that one should either live independently or live in a single family household. This is a common thing in the US, but it is extremely uncommon throughout most of the world, even in other first world countries. In most of the world it is rather common to have 2 or more families to a single household, and generally that household will be physically smaller than the typical US household.

      People sometimes wonder why rent is high in some areas (see the whole Google bus thing.) That's why (well that and SF refuses to permit building more real estate or even building upwards to meet the growth needs of the population, which is really a bonehead move.)

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    4. Re:Greenspan's right by Cryacin · · Score: 5, Insightful

      Here's a better idea Mr. Greenspam. How about we make your pay equal to everybody elses? (My insulting consulting invoice is issued by the way)

      --
      Science advances one funeral at a time- Max Planck
    5. Re:Greenspan's right by Anonymous Coward · · Score: 0, Insightful

      How about we just shoot the motherfucker in the head?

    6. Re:Greenspan's right by LMariachi · · Score: 4, Informative

      SF refuses to permit building more real estate or even building upwards

      I guess you haven’t looked anywhere in the direction of Rincon Hill in the past few years. Or been to South Beach, or Mission Bay, or looked at Lennar’s plans for the Candlestick area. I look forward to all this luxury development increasing the housing supply and driving down rents. I’ll just be over here not holding my breath.

    7. Re:Greenspan's right by LMariachi · · Score: 1

      Sorry for the double-reply, but I meant to also say that you’re right about shared households. I live in one, and think they should be encouraged and thought about beyond “need new roommate, post to craigslist.” I suppose “intentional communities” is the jargon for what I mean.

    8. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Sure, but we're gonna start at regular run of the mill IT folks? You think they are the ones everyone looks to with envy? Try million and billionaires. Hell what entertainment and sports stars, again millionaires. Nope, it's those damn IT workers, they are the true cause of inequality!

    9. Re:Greenspan's right by matthewv789 · · Score: 4, Insightful

      I disagree. I think we would fix a ton of other problems that are strongly resistant to other solutions if just about the only thing we did focus on was income inequality. The problem is, right now, we don't do anything at all about income inequality except allow it to get worse every year for the last 40 years.

    10. Re:Greenspan's right by careysub · · Score: 1

      One perfect example of this I see on a daily basis is the expectation that one should either live independently or live in a single family household. This is a common thing in the US, but it is extremely uncommon throughout most of the world, even in other first world countries....

      Citation please?

      Oh, here's one! Apparently the average family household unit size in the entire OECD (basically, the community of industrialized nations) is about 2.6, which is almost exactly the same as that for the U.S.! In other words, far from being unusual in first world countries, we are strictly average!

      So, no, you are just making stuff up that you think sounds plausible.

      --
      Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
    11. Re:Greenspan's right by Anonymous Coward · · Score: 1

      In the movie, "Happy", they talk about a communal living situation in, IIRC, Denmark. The advantages extend far beyond simply saving money. Other benefits range from increased socialization for kids to little things like having to only cook once per month (but cooking for 30-60 people). Seems like something people should be doing more of.

    12. Re:Greenspan's right by Anonymous Coward · · Score: 0

      "How about we just shoot the motherfucker in the head?"

      Now now now that won't do. The stupid reality-denying old fart is a perfect reverse barometer.

    13. Re:Greenspan's right by ackthpt · · Score: 1

      How does marketing and advertising impact this?

      Advertising must cater to the poor, wise, rich, foolish, people with spots, or smoking joints, all equally -- fool all the people, all of the time.

      you really need this technological wonder device!

      --

      A feeling of having made the same mistake before: Deja Foobar
    14. Re:Greenspan's right by fuzzyfuzzyfungus · · Score: 3, Informative

      Here's a better idea Mr. Greenspam. How about we make your pay equal to everybody elses? (My insulting consulting invoice is issued by the way)

      You'd pay him that much?

      Even after his tragicomic “Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief"; but, not to worry, “Whatever regulatory changes are made, they will pale in comparison to the change already evident in today’s markets...Those markets for an indefinite future will be far more restrained than would any currently contemplated new regulatory regime.” performance?

      (I guess, horribly enough, the fact that the events of the day did move him to concede that the 'free markets just full of rational actors!' model...might have a few weak spots... actually makes him a better empiricist than more than a few other economists in that camp.)

    15. Re:Greenspan's right by fuzzyfuzzyfungus · · Score: 1

      How does marketing and advertising impact this?

      To the degree that it doesn't merely shove people from Company A's product to Company B's product(which would probably be roughly a wash hedonically, though possibly slightly negative if a company were to discover that the marginal value of a dollar spent on advertising is higher than a dollar spent on improving products...), I'd have to assume that the news is more or less 100% bad.

      When the punchline is that possessing Product and/or Service X will make you better off; and the target demographic is 'people who currently don't have one; but might be willing to believe that', it's pretty much best-case that the ad will fail, and increasing levels of added dissatisfaction with lack of Product X for the other cases.

    16. Re:Greenspan's right by gnoshi · · Score: 4, Insightful

      Actually, I mostly agree with you. The point I was trying to make was that simply aiming to decrease inequity is a silly goal if you don't have broader constraints such as 'so everyone can afford to eat'. The reason behind wanting to make that point was that if it is considered an improvement for inequity to decrease as a result of pushing middle wages down by allowing more H1Bs, then maybe it could be extended to minimising inequity by making almost everyone dirt poor.

      I think that reducing inequality by pulling in the top and bottom ends does have a whole range of benefits.

    17. Re:Greenspan's right by AlphaWolf_HK · · Score: 2

      Citation please?

      Oh, here's one! [oecd.org] Apparently the average family household unit size in the entire OECD (basically, the community of industrialized nations) is about 2.6

      Hmm...you really pulled a stupid there. Try reading your report again. It breaks down households by family nucleus, not by physical dwelling, for all but one category, and it specifically notes (see the bottom of the first page) that they separate averages by category. I don't know where you pulled that 2.6 figure from, but that would only be from among one of those categories according to that report, and I highly doubt it would have been from the category that counted extended families.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    18. Re:Greenspan's right by Anonymous Coward · · Score: 5, Insightful

      it could be extended to minimising inequity by making almost everyone dirt poor.

      You do understand that IS the point of all this?

      In case it hasn't been clear to you, there's been a class war happening all along, with the precise goal of disempowering 99% of the population and (re)turning society to a kind of neofeudalism.

      This statement from Greenspan is basically his way of hanging a "Mission Accomplished" banner across the bridge of his office.

    19. Re:Greenspan's right by Nephandus · · Score: 0

      Some of us don't like sharing our pens. The disadvantages are sufficient for us paying not to. Seen enough proud communalists complain about resulting problem but pretend to shift blame to everyone else. Commune girls bitching about "capitalism" (whatever they actual intend that to mean at the time) then explicitly seeking guys that "want" to feed them and entertain them away their grand commune is particularly amusing.

      --
      "A soft answer turneth away wrath. Once wrath is looking the other way, shoot it in the head."
    20. Re:Greenspan's right by sjames · · Score: 5, Interesting

      Excellent! Let's replace the over-priced CEOs with more reasonably priced foreign ones. That should REALLY help the inequality situation.

    21. Re:Greenspan's right by anubi · · Score: 1

      This whole thing reminds me of Marie Antionette.

      The French took it for only so long.

      Another poster has already hinted at the inevitable outcome of this kind of behaviour.

      --
      "Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]

    22. Re:Greenspan's right by Anonymous Coward · · Score: 0

      So is that how you justify it to yourself why your in your 30's to 40's and still living in your mother's basement?

      Well have fun with living with your mother, or roommates who will undoubtedly steal half your things before you have to kick them out.

    23. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Uh...

      This applies to all major cities, even some smaller ones, but:
      a) Developers with money buy land or old apartment buildings or some other undesirable chunk of land
      b) They tear down whatever is there and build shiny new condos built as cheap as possible so they won't last 50 years
      c) They sell those buildings units to suckers who will not maintain their units inevitably
      d) 50 years later the developers come back and buy the property again and repeat.

      Every step of the way the developers are making money. We should actually be doing something different like
      a) Demolish inefficient non-historically-relevant buildings
      b) Build high-tech high-end mixed-use buildings (a ground-level business, next floor are offices for those businesses, with the next 2-3 floors being rental-only apartments that can only be rented to employees (therefor subsidized by the business), the remaining floors of the building must be a 50/50 split between market housing and rental-only housing, with the rental incoming going directly into building maintenance.)
      c) build buildings as tall as possible for the earthquake-proofing that the ground will support without blocking out the sunlight. So this generally requires buildings that are cylindrical or cone shaped.
      d) connect all buildings with elevated covered walkways instead of ground level sidewalks. No more pedestrian crowding at street level to compete with traffic.
      e) ideally, automated building-to-building ground transport (eg think "The Jetsons" style moving sidewalks) be it electrified third-rail operated transit or just straight up literal moving sidewalks.

    24. Re:Greenspan's right by complete+loony · · Score: 2

      Everywhere you look around the western world, where you can see evidence of a property bubble increasing the cost of living. Everyone seems to blame the increase on a lack of supply. But the biggest correlating factor with housing prices is the creation of mortgage debt.

      Do you want housing to be more affordable? Cut off the supply of credit.

      --
      09F91102 no, 455FE104 nope, F190A1E8 uh-uh, 7A5F8A09 that's not it, C87294CE no. Ah! 452F6E403CDF10714E41DFAA257D313F.
    25. Re:Greenspan's right by gmhowell · · Score: 1

      Advertising must cater to the poor, wise, rich, foolish, people with spots, or smoking joints,

      If I had my way, I'd have all of them shot.

      --Pink (or is that Alan Greenspan?)

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    26. Re: Greenspan's right by Anonymous Coward · · Score: 0

      Ah you have been to hong kong then? Love that outdoors escalator...

    27. Re:Greenspan's right by buybuydandavis · · Score: 5, Insightful

      Can anyone make any sense of what he was saying?

      The solution to income inequality is to import more labor supply and further depress wages, but make those who *own* the businesses that hire them even richer? What? What is that guy smoking?

    28. Re:Greenspan's right by blahplusplus · · Score: 2

      Just thought I'd pass this along to everyone.

      https://www.youtube.com/watch?...

    29. Re:Greenspan's right by shiruba3094 · · Score: 1

      No, his point was that wealth is relative. For example, to the uneducated, it would appear that you could solve everyone's money problems and make everyone rich simply by printing huge amounts of money and sending everyone a check for a million dollars. Then you would be a nation of millionaires, right? Well technically, yes - but... soon houses that used to be one million dollars would rise in price to a billion dollars or so as people bid against each other. In fact everything would rise in price, meaning that not much would change overall. Then again, what would change is that if you had two people: One with a million dollars, and one with zero dollars, then before the give-away one would be very rich and one would be dirt poor. After the give-away, one would be "normal" and one would have twice as much money as the new "normal" but that would be a lot less rich than he used to be in relative terms. (i.e. he might be in the top 25% now instead of the top 5%). Either way, printing money ends up to cause massive inflation and is a form of taxation. Who benefits depends on where how the money is distributed. That said, the blurb in this "article" is too short to understand what he was actually trying to say. I suppose he thinks that IT workers are overpaid compared to other professions, and thus allowing more H1B workers might possibly lower the average pay and thus help make wages more even? That doesn't make a lot of sense to me either, because then we would have to go searching for the next target. Doctors? Pro-wrestling? Cable man?

    30. Re:Greenspan's right by LifesABeach · · Score: 1

      It appears that maybe Greenspan has not had a chance to live his words; pity. His insight is not based on any fact based on personal experience.

    31. Re:Greenspan's right by bugmenot462 · · Score: 1

      How the hell does that reduce inequity? That maximizes it, for any reasonable definition of income inequality.

    32. Re:Greenspan's right by next_ghost · · Score: 1

      No, his point was that wealth is relative.

      Yes. Give everybody more cash and you get inflation. Take cash away from middle class and you get deflation. But the vast majority of economists is scared shitless of deflation. The government and central banks have tools to curb inflation if it gets out of hand. But if deflation sets in, the only thing they can do is sit back and watch things falling apart, because they'll be completely powerless.

    33. Re:Greenspan's right by GameboyRMH · · Score: 0

      The French took it for only so long.

      When the French finally hit rock bottom and had nothing to lose...they sat and quietly died, mostly not living to see the revolt their great-grandchildren pulled off.

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    34. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Be careful; you may get what you wished for. Like when HP hired overseas man Léo Apotheker.

    35. Re: Greenspan's right by Catbeller · · Score: 1

      Ayn Rand.

    36. Re:Greenspan's right by Anonymous Coward · · Score: 0

      The guy who owns the bussiness doesn't receive income. He receives a return on investment. He also get's taxed a shitload less.

    37. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Differing definition of income. The bussiness owner has a capital gain. The worker bee has an income fueled by wages.

    38. Re:Greenspan's right by godefroi · · Score: 1

      And, let's not forget, that the French Revolution didn't exactly produce utopia...

      --
      Karma: Poor (Mostly affected by lame karma-joke sigs)
    39. Re:Greenspan's right by jedidiah · · Score: 3, Insightful

      He's a modern day Marie Antoinette. He's trying to conflate decent paid working schmucks with the 1% while completely neglecting the real source of wealth/income inequality in our society.

      When ideas like this lead to bloodshed, he should be at the head of the line.

      --
      A Pirate and a Puritan look the same on a balance sheet.
    40. Re:Greenspan's right by Anonymous Coward · · Score: 0

      That's actually a great idea. It would make money worthless.

    41. Re:Greenspan's right by DriveDog · · Score: 4, Insightful

      The Terrors are a great reason to never let things get so bad that you end up with that sort of revolution. It's not an argument against the working class knocking off the ruling class, it's an argument against allowing extreme discrepancies to ever occur.

    42. Re: Greenspan's right by LDAPMAN · · Score: 1

      So exactly what did Rand say about imported labor?.......nothing.

    43. Re:Greenspan's right by Anonymous Coward · · Score: 0

      I live in the Netherlands, and I can tell you that living independently is just as common as in the US. The typical household is probably physically smaller though.

      I have been living in a "living group" of about 30 people for a few years now, and I am considered a bit weird for this fact by many of my fellow Dutch.

      I had some great, also some really crappy experiences during these years of "communal living". At this moment I am looking to move as I am completely fed up with the downsides: irresponsible and/or selfish housemates, the psychology of group dynamics (lack of individual responsibility, conformism), etc. If you live independently then at least you don't have to deal with these negative aspects of human nature within your own house.

      I can totally understand now from personal experience why societies move from collectivism to individualism when wealth increases. Collectivism doesn't tend to be a lifestyle choice, but rather a necessity when the economic situation is harsh. The downside of collectivism is that it tends to come with unconditional support for your own in-group, so you have to be willing to accept bad things.

    44. Re:Greenspan's right by FrozenToothbrush · · Score: 1

      Thanks for this.

    45. Re:Greenspan's right by bluefoxlucid · · Score: 1

      Greenspan is retarded. His argument is deflationary economics.

    46. Re:Greenspan's right by GameboyRMH · · Score: 1

      Why Flamebait? The French spent 4 generations in abject poverty before they revolted. Fact.

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    47. Re:Greenspan's right by Jane+Q.+Public · · Score: 1

      "Actually, I mostly agree with you. The point I was trying to make was that simply aiming to decrease inequity is a silly goal if you don't have broader constraints such as 'so everyone can afford to eat'."

      So the question is: how would you fix this? Because here's a fact for you: the government spends MASSIVELY more money today to fix that "income inequity" today than it ever has... and yet we have more inequity now than -- almost -- we ever have.

      Intentions are not results. Lots of well-intended government programs have left us less well off.

      There is a very strong positive correlation between government actions and spending intended to decrease inequity, and inequity.

      So what are you going to do? More of the same? Probably not a good idea.

    48. Re:Greenspan's right by cheesybagel · · Score: 1

      Precisely. Not was credit made easier to access and the loan payback periods extended to ridiculous amounts but Western governments also started giving tax benefits to people which actually entered into these debts to begin with. There were all sorts of incentives in order to increase the amount of money siphoned into the construction business to prop up GDP numbers while the jobs and real productive GDP vanished into China.

    49. Re:Greenspan's right by cheesybagel · · Score: 1

      s/Not/Not only/

    50. Re:Greenspan's right by Belial6 · · Score: 1

      The government only spends money trying to decrease the inequity between the middle and lower class. This just makes the problem worse, just as this H1B visa suggestion is only designed to decrease inequity between the middle and lower class while increassing the disparity between the upper and middle/lower class. I have not seen any programs that address the disparity between the truly wealthy and the poor.

    51. Re:Greenspan's right by Darinbob · · Score: 1

      Greenspan was basically an acolyte of Ayn Rand, who sat at her feet and absorbed it all. Too many people see him as just a past Federal Reserve chairman but he really does have an ideology he is promoting.

    52. Re:Greenspan's right by Jane+Q.+Public · · Score: 1

      "The government only spends money trying to decrease the inequity between the middle and lower class."

      Where did you get that idea? I agree that the government isn't doing it right, but I think you are overstating it a bit.

      "This just makes the problem worse, just as this H1B visa suggestion is only designed to decrease inequity between the middle and lower class while increassing the disparity between the upper and middle/lower class."

      No, it isn't. It's designed to make the rich richer, at your expense. It has nothing to do with middle class versus poor. It isn't the "middle class" who are hiring H1B workers or lobbying governments. It's the CEOs of multi-billion-dollar corporations. They aren't the middle class.

      " I have not seen any programs that address the disparity between the truly wealthy and the poor."

      Yet that's what they always CLAIM the programs are about. That's what Obama is always railing against. "Income inequity", in Government-speak, is the gap between the richest and the poorest, not the poor and the middle class.

      I agree that government programs do not really address those issues, but that is how they are always sold: rich vs. poor. And the middle class has almost invariably been the victim. That was my whole point.

      Whenever you get government involved, that's what's going to happen. So the answer is to get government UN-involved.

    53. Re:Greenspan's right by matthewv789 · · Score: 1

      OK, got it. And I totally agree. Exactly right that while software engineers may be the upper-middle of the income spectrum among ordinary wage earners, they're still closer to the bottom compared to the actual high end of the spectrum. But they're a convenient target for those wishing to deflect attention from the real problem.

    54. Re:Greenspan's right by AlphaWolf_HK · · Score: 1

      Actually no I don't live in a basement (I don't even have one.) Do I live with my mom? Yep, no qualms about it either. I pay for everything but the mortgage, so it's not as if it's a one way deal. In fact it's really not much different from having a roommate, except there's no risk of anything being stolen.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    55. Re:Greenspan's right by AlphaWolf_HK · · Score: 1

      Actually that's not a bad idea at all. In Mexico where people are supposedly poorer, they actually own their houses without a mortgage.

      I don't advocate banning mortgages (that would just substitute dickwad banks with legal accountability for loan sharks with zero legal accountability...really not a better situation to be in) However I do think that government policies forcing banks to make loans more readily available can definitely be done away with. The idea was that more loan availability means more people own houses...which is technically true, but that also means houses are more expensive and people are perpetually in debt.

      The same rule applies to student loans, of which I think we have too many (and the government should discontinue issuing student loans immediately IMO, which would not only solve the tuition rate hike problem, but would solve the student loan default problem.) Would there be less people in college? Probably, though I doubt you'd see much less. Not only that, but a few of those who probably shouldn't be in college to begin with wouldn't go either. College really isn't for everyone, and I think we need to stop pretending it is.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    56. Re:Greenspan's right by godefroi · · Score: 1

      So, if the ruling class makes a mess of things, it's their fault, and if, in response, the working class makes a mess of things, it's still the ruling class' fault? Does the working class have any responsibility for their actions?

      It seems to me that you're making the case that the working class is inferior, and thus can't be held responsible for their actions, and yet, should be equal to the ruling class. I'm not sure you can have it both ways.

      --
      Karma: Poor (Mostly affected by lame karma-joke sigs)
    57. Re: Greenspan's right by Rakarra · · Score: 1

      So exactly what did Rand say about imported labor?.......nothing.

      She did however say it was totally fine to screw over other people as long as it benefited yourself, so it fits.

    58. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Oh Alpha-wolf - you say that "... and SF refuses to permit building more real estate or even building upwards to meet the growth needs of the population, which is really a bonehead move."

      Do corporations inherently have a right to more density/cheaper housing for any number workers they choose to bring in while times are good? Why should I have to live in a perpetual traffic jam so they can? Meanwhile the CEOs buy and tear down homes so they can build suburban Mcmansions in Palo Alto and Menlo Park (Page and Zuckerberg).

      Stop drinking their koolaid. It is hardly a "boneheaded move" to reject infinite growth, especially when the infrastructure we have is breaking down...and none of the developers/corporations pay for upgrades before walking away with their tax-sheltered billions.

    59. Re:Greenspan's right by irenaeous · · Score: 1

      I wish he were more consistent then. H1-B's have restricted rights and are used to force wages downward. A true acolyte of Rand would oppose those restrictions and remove all barriers to immigration.

    60. Re:Greenspan's right by FirephoxRising · · Score: 1

      Maybe I'm missing something, but I don't understand his idea at all. More H1Bs will increase the income problem. You'll have more people being paid less and fewer local people employed. I'd do the reverse, make H1Bs be paid the same with the same conditions as locals....

    61. Re:Greenspan's right by FirephoxRising · · Score: 1

      I agree about the credit, but more needs to be done on the supply side as well. We have insanely high house prices/rents, and they wonder why personal debt is so high and savings are low?! WTF?

    62. Re:Greenspan's right by complete+loony · · Score: 1

      The essential problem is that banks have issued credit against asset based securities that were grossly overvalued. These are debts that we have accumulated over the last 50 years. They will not be repaid, the only question is how we as a society choose not to pay them.

      The ideal outcome would drop both the exchange value of these assets, and the credit lent against them. While preserving the equity of the current owners, and imposing a new lower limit on their security value. But while you want to reduce the future income of the lending banks, you don't want them to go broke overnight, since this would also have drastic flow on effects on the economy.

      This might be achievable by limiting security value based on the productive output of an asset (instead of the current exchange value). This limit should be the same for everyone, regardless of their ability to pay. That way, if you wish to place the highest bid at an auction, you must put more of your own money on the table. An auction should be won by the person with the deepest pockets, not the person with the highest bank loan. Want to buy a house? Well, you'd better start saving for a deposit.

      The introduction of these new limits would have to be staggered. You should be able to calculate the net reduction in debt at a national level. Then to be fair, you could "simply" (cough) hand out the same amount of cash to all individuals. If you have debts, you must pay them down as your credit limit will be going down. If you don't have debts? Spend it, save it, whatever.

      Fixing this quickly will be a massive restructuring operation, with a massive impact on the wealth of all individuals and businesses. It is not an action to be taken lightly. Multiple proposals should be submitted, with their outcomes carefully modelled. Of course that assumes that the models used actually reflect reality.

      As I expect to see a series of market crashes, followed by longer periods with anaemic growth. On any particular day, things will be looking better. Even when employment falls to Great Depression levels, it will be hard to convince everyone that we need to try something drastic.

      --
      09F91102 no, 455FE104 nope, F190A1E8 uh-uh, 7A5F8A09 that's not it, C87294CE no. Ah! 452F6E403CDF10714E41DFAA257D313F.
    63. Re:Greenspan's right by DriveDog · · Score: 1

      Just an observation of cause-and-effect. Too great a distance between wealthy and the masses, and you get a revolution, which might turn out bad for everyone. So avoid that situation. It is both ways; the 1% do wrong and the rest, in response, do wrong. Didn't your mother tell you that two wrongs don't make a right?

    64. Re:Greenspan's right by FirephoxRising · · Score: 1

      Interesting, thanks. I'm sure you're correct that feet will be dragged over reforms even with drastic unemployment and inequality. It may end up being settled over the barrel of guns.

    65. Re:Greenspan's right by godefroi · · Score: 1

      Well, sure. Just as, however, you (apparently) can't legislate morality (we tried, see prohibition), I believe that you also can't legislate equality.

      Even if we pulled down the "1%", we'd simply have a new set of ultra-rich replace them. The fact that the new ultra-rich came from the old ultra-poor would be small comfort. It's human nature to attempt to get wealth and power.

      If you're a religious sort of person, of course, you likely have a particular perspective on all this.

      --
      Karma: Poor (Mostly affected by lame karma-joke sigs)
    66. Re:Greenspan's right by Anonymous Coward · · Score: 0

      Just as, however, you (apparently) can't legislate morality (we tried, see prohibition), I believe that you also can't legislate equality.

      Incorrect. You can legislate morality, and people have done that throughout the ages. We have laws against theft, murder, and a lot of other things. If a person sees no problem with committing those crimes, most people would consider that person to be an asshole, an amoral sociopath.

      Things like murder and theft are low hanging fruit so few people debate them, but other issues aren't so black and white. You don't have to look back to prohibition to see examples of morals debated in legislature. People today are still arguing over things like drugs and marriage.

      What are low hanging fruit and what are grey areas also change over time. Back in the Bad Old Days, there was no moral dilemma with the notion that the King has the blessing of the gods and technically owned everything.

      This leads to the notion that the poor are never at fault when they respond to the rich's mess ups. The ones who act immorally are the ones at fault, and like it or not, the poor outnumber the rich in deciding who is or isn't acting morally, justifying the poor's response.

      This leads to the advice to the rich and the rulers to stay on the poor's good side.

      The fact that the new ultra-rich came from the old ultra-poor would be small comfort. It's human nature to attempt to get wealth and power.

      No, it would be great comfort. Valuing WHO is rich as opposed to how many people are rich is also part of human nature. One mans' "1%er" is anothers "job creator"

      Even if it is small comfort, it's a small comfort for many many poor people, so they add up to be a larger comfort than only a few rich people finding comfort.

  2. Fuck that by PeeAitchPee · · Score: 4, Interesting

    All Greenspan wants to do is further shaft the US worker and help Big Business cut its costs even further. He's nothing more than a shill at this point.

    1. Re:Fuck that by s.petry · · Score: 5, Insightful

      Exactly! Anyone that can't see how his logic is broken should ask a friend to read it to them while they polish their red tipped cane. Increasing H1B imports, when companies pay these people less than they do college graduates, helps the US economy how? An executive getting a big fat bonus check by keeping 100 US citizens from working does not help out our economy, and _can not_ help our economy.

      This line of crap is almost as pathetic as the "jobs American's won't do" crap. Both of those are simply excuses to pay foreigners less money than a company would have to pay a US employee due to minimum wage laws. Just Google "h1b visa abuses in the US" and read the first few results.

      I won't bother Billy Bashing in this, his comments were not so bad for a change and I just bashed him yesterday for claiming Snowden was no hero.

      --

      -The wise argue that there are few absolutes, the fool argues that there are no probabilities.

    2. Re:Fuck that by AlphaWolf_HK · · Score: 2

      That's a common argument I see against immigration, but the fact is that immigration allows the economy to expand. (Immigrants don't steal your job, rather their mere presence permits the addition of new ones.)

      The only problem I have with immigration is non-working ones who effectively leech off of the dole system and take advantage of our birthright citizenship loophole (which few countries have.) So called anchor babies by being a citizen automatically entitle their parents to welfare benefits (For example, current medicaid rules stipulate that anybody who merely has a child under 18 that is a US citizen are themselves eligible for full healthcare benefits, which are actually way better than you can buy in from private insurance, and are also completely free. They're also eligible for TANF where the T doesn't actually apply to them, in addition to being eligible for SNAP.)

      The above is a very real problem that Arizona tried to deal with by simply enforcing federal immigration rules at the local level, but the federal government has effectively stopped it. In addition to that, the federal government also doesn't permit Arizona to deport known drug cartel members. (That and Phoenix is also the kidnapping capital of the world, another problem that the federal government won't allow Arizona to deal with.)

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    3. Re:Fuck that by Anonymous Coward · · Score: 0

      As an H1B worker, I can tell you right now, you've been watching too much Fox news. We certainly get substantially more than college graduates ;P

    4. Re: Fuck that by Anonymous Coward · · Score: 1

      Maybe from your own country., but not here, certainly not the prevaling wage as the law states.

    5. Re: Fuck that by Anonymous Coward · · Score: 0

      TANF is not available to illegal aliens.

    6. Re: Fuck that by Anonymous Coward · · Score: 1

      As the same H1B worker, I can tell you right now, yes, I get above the prevailing silicon valley wage. Fairly significantly in fact.

    7. Re:Fuck that by careysub · · Score: 3, Insightful

      ...

      The only problem I have with immigration is non-working ones who effectively leech off of the dole system and take advantage of our birthright citizenship loophole (which few countries have.) So called anchor babies by being a citizen automatically entitle their parents to welfare benefits...

      So basically you hate the people who exist in your fantasies. I am sure a good fantasy-hating makes you feel all warm inside.

      --
      Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
    8. Re: Fuck that by AlphaWolf_HK · · Score: 0

      They're not here illegally if they have a kid who is a citizen.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    9. Re:Fuck that by Anonymous Coward · · Score: 0

      How 'bout we just make it easier for skilled immigrants to get citizenship rather than increasing the number of "here temporarily to earn as much money as possible before being forced to go home" employees? Making them invested in the future success of our country seems like a good thing to me, plus it kinda solves the H1-B discount issue that people here love to bitch about.

    10. Re:Fuck that by GodfatherofSoul · · Score: 1

      What do you mean "at this point." The guy has ALWAYS been a shill. If you look up how the Fed talked up ARMs as they decreased interest rates, then jacked them up right after everyone bought it (the "curve" made a nice V in the naughts), you know he's always been a shill.

      --
      I swear to God...I swear to God! That is NOT how you treat your human!
    11. Re:Fuck that by AlphaWolf_HK · · Score: 1

      I don't recall saying that (and they're certainly around; I hear complaints all the time from a friend of mine who is himself an immigrant and always sees patients who are birthright citizens, which he commonly complains about because he had to go through hell to get here the normal way.)

      That is also ignoring acts of terror:

      http://www.reuters.com/article...

      Anyways I don't really view it as my problem. I intend on expatriating myself, so I'm not going to bother fighting it. It's actually a problem that those who are intending to stay here are going to have to deal with after so many years of turning a blind eye to it (people like you telling themselves that it's racism when race has nothing to do with it -- never mind that Mexico isn't a race, nor are Mexicans, many of which are whiter than I am.)

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    12. Re: Fuck that by Anonymous Coward · · Score: 0

      Do you have statistical evidence of a meaningful size that your situation approximates the norm for all H1B workers?
      Or are you simply an outlier?

    13. Re:Fuck that by Anonymous Coward · · Score: 0

      So I'm assuming he hates you then as it sounds as if you are a birthright citizen.
      What did you do to earn your citizenship?

      30 countries provide Jus soli almost all of them in the 'New World'. There is a reason for that. They saw what the alternative was. 6th generation households all Legally defined as second class citizens in the towns they had lived in for multiple generations.

      If we are going to eliminate Jus soli in the US are you willing to apply it retroactively and apply and be evaluated for citizenship yourself?
      If not, then I hold your just a selfish shit rationalizing his winning the birthplace lottery.

      Fuck that indeed.

    14. Re:Fuck that by sjames · · Score: 1

      H1-B is not immigration. The H1-B comes here for a few years and then takes the money back home. They are effectively indentured to the company that brings them in, which is where the problems come in. In contrast, an immigrant has a green card and is just as free as the rest of us to leave an exploitive employment situation. They generally make an effort to join our culture including values and learning their rights. It's an entirely different situation.

      Illegal immigration is a problem because they actually can't afford to report workplace abuses and pretty much have to take what's offered. If you really want to kill that problem, offer illegals who report rights violations a fast track to legal immigration as a reward and watch the illegal sweatshops paying less than minimum wage dry up and blow away.

    15. Re: Fuck that by El+Puerco+Loco · · Score: 2

      are you a complete fucking moron or just a racist wingnut troll? Parents of children born in the U.S. are not allowed to stay here just because their kid is a citizen. Arizona should be walled off and people like you sent there to live out your miserable lives.

    16. Re:Fuck that by Anonymous Coward · · Score: 0

      Increasing H1B imports, when companies pay these people less than they do college graduates, helps the US economy how?

      Well, if we accept your premise (which I'm not sure that I do), by having some workers that do the job for less, work gets done more efficiently. It sucks for the American workers, but the American economy is not just the American worker.

      This line of crap is almost as pathetic as the "jobs American's won't do" crap.

      Having known a wide variety of Americans, I know of none that would work in the fields, a phenomenon that has also been seen in the news many times.

    17. Re:Fuck that by El+Puerco+Loco · · Score: 0

      please return to masturbating to your sean hannity poster and leave us sane people alone.

    18. Re:Fuck that by blackraven14250 · · Score: 1

      "Jobs Americans won't do" is incorrect when applied to most jobs, but particularly in agriculture, it's a totally legitimate phenomenon. You wouldn't pick oranges for minimum wage.

    19. Re:Fuck that by TubeSteak · · Score: 4, Informative

      You can read a transcript of Greenspan's comments (with obvious errors) here:

      The relevant portion starts at 00:39:11 and it's just a hot mess.

      So my view is to recognize that what is causing this low rate of growth in average hourly earnings is basically so proud of -- slow productivity.

      This is, quite frankly, shocking for him to say.
      Wage growth has only slightly outpaced inflation despite decades of massive productivity increases.

      He comes back to immigration at 00:47:53
      I thought maybe TFS and TFA mischaracterized Greenspan's comments.
      Nope. He's advocating depressing wages for white collar workers instead of raising wages for low income earners.

      The only redeeming quality of Greenspan's testimony is it shows that the housing crisis shined a spotlight into his ideological blind spot.
      Now he's advocating for stronger fraud controls and higher capital reserves/better collateral requirements in the banking system.
      So in his ideal world, the banks won't screw you, but you'll have no money to put in the bank because your wages are depressed by H1B workers.

      --
      [Fuck Beta]
      o0t!
    20. Re:Fuck that by TubeSteak · · Score: 2
      --
      [Fuck Beta]
      o0t!
    21. Re:Fuck that by Rich0 · · Score: 3, Insightful

      "Jobs Americans won't do" is incorrect when applied to most jobs, but particularly in agriculture, it's a totally legitimate phenomenon. You wouldn't pick oranges for minimum wage.

      I wouldn't write computer software or design bridges for minimum wage either. I guess we need more H1Bs to write software and design bridges, then.

      Who says that people who pick oranges need to be paid minimum wage?

      If you offered $1M/yr to anybody willing to pick oranges you'd have no trouble filling the jobs. If you offer $5/hr then nobody is willing to do the job, apparently. Chances are if you offered $10-20/hr you'd have no trouble filling the post. The price of oranges probably wouldn't change much at all - if they could get a penny more for them they already would be doing so. The guys who own the farm would just make less money.

    22. Re:Fuck that by DamnOregonian · · Score: 5, Interesting

      As someone who lives in Redmond, Washington, and works as an engineer in the IT field; a place where very large portions are Little Mumbai, filled to the brim with imported IT workers, I can tell you, right now, that you do not represent the "we" you think you do.

      Now, that aside- I'm totally pro-immigration.
      The part that sucks is the H1-B part.
      I don't like being forced to compete with indentured servants. Play by the corporate rules or be deported- that's fantastic. Enjoy your highly theoretical rights regarding switching employers or obtaining green-cards or permanent resident status. Bring your family on over, no really- they'll let you.
      I want companies to be forced to sponsor full immigrate visas for foreign workers they think they need. None of this non-immigrant worker horse-shit.

      I also don't believe you, AC.

    23. Re:Fuck that by DamnOregonian · · Score: 2

      I wouldn't, but I happen to have family in the midwest. They would, and do.
      They also shovel chicken-shit from Tyson mega-pens for that much.
      They actually do feel pressure from illegal immigration, so that makes me sympathetic to them... I only wish I understood why the economy of the region was so utterly depressed. They are capable of more than shoveling shit and picking fruit.

    24. Re:Fuck that by Anonymous Coward · · Score: 0

      I also don't believe you, AC.

      A lying wog? First time for everything...

    25. Re:Fuck that by gmhowell · · Score: 1

      Having known a wide variety of Americans, I know of none that would work in the fields, a phenomenon that has also been seen in the news many times.

      I submit your 'wide variety' is far less diverse than you imagine. Get out of your suburb.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    26. Re:Fuck that by Sarius64 · · Score: 2

      Considering 50 million American out of work. One wonders that American corporations can't invest in American workforces.

      Data shows millions of Americans falling out of the workforce

      Still No Evidence of a Labor Shortage

    27. Re: Fuck that by gmhowell · · Score: 1

      I looked around a bit and saw a few citations that back your assertion that "Parents of children born in the U.S. are not allowed to stay here just because their kid is a citizen" Do you know of any firm numbers? Say the number of births in the US with non-citizen parents? Of perhaps more interest to me would be the numbers of deportations of these parents. And are the children returning to the home country of the parent(s) or are they staying in the US and entering various foster care situations?

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    28. Re:Fuck that by Sarius64 · · Score: 1

      Having known a wide variety of Americans, I know of none that would work in the fields, a phenomenon that has also been seen in the news many times.

      Funny how you seem to think that no one in your workforce ever pulled themselves up from the lower socio-economic levels. Perhaps you should talk to others about their past. I was picking strawberries, tobacco, wheat, and vegetables from age 5 onward. Admittedly, today, I do not generally work around people currently picking crops in my workplace.

    29. Re:Fuck that by jellomizer · · Score: 1

      It sounds like they want to slow down progress. Increasing the visa cap, will now slow down the progress, it will just push the money out of the US, and pay people less for the work.

      Unless they are emplying these workers are inferior to American workers, and wouldn't be able to automate buisness processes.

      The real issue is this software automation is replacing the work of what we usually called smart people. People who can remember a lot of facts, do calculations quickly in their head. Or can do their jobs consistently. Those jobs are going to computers. What will be needed now are people who are more creative, who can think outside the box, try and experiment on new ways to do things. Those are the future for jobs.
      Our schools and colleges (in and outside the United States) are not doing enough to get people ready for this economy 2.2 (the latest patch to the buggy economy 2.0).

      --
      If something is so important that you feel the need to post it on the internet... It probably isn't that important.
    30. Re:Fuck that by Sarius64 · · Score: 2

      Yes, entire construction industries wiped out in California because they were forced to compete with illegal workers being used for roofing and other dangerous jobs without permits, insurance, or even paying taxes. When the police and the attorney general refused to do anything legitimate businesses dissolved.

      Here's an article emphasizing similar points:

      Illegal immigrants might get stimulus jobs, experts say

      Our family hosted some summer teenagers performing missions to Tijuana about seven years back and this one young lady from a Michigan dairy farm couldn't understand why anyone had a problem with any immigrants coming to American illegally to better themselves. Five years later, I spoke with her father about their business and he had to fire American workers and hire illegals in order for him to "compete" because illegals would work for food, shelter, and $10 a day. This is 2012, mind you.

    31. Re: Fuck that by Sarius64 · · Score: 1

      Some wealthy people may take the longer view than you indicate:

      Born in the U.S.A.: Birth tourists get instant U.S. citizenship for their newborns

      Her business also helps the women navigate the logistics of obtaining American birth certificates, passports, and Social Security numbers for their babies before they fly home to China.

      She said that she hopes her newborn daughter, Emily, will return to the United States to attend high school and college. When Emily is 21, she could apply for her parents to become legal residents in America.

    32. Re:Fuck that by Sarius64 · · Score: 1

      please return to masturbating to your sean hannity poster and leave us sane people alone.

      Sounds like you're the one with issues, mate.

    33. Re:Fuck that by Sarius64 · · Score: 1

      I couldn't agree more. We've watched incidents where extended family in Mexico came over to southern California for illegal construction jobs, were injured on the job (particularly roofing) and then are simply dumped at the border and told to disappear. But, that shouldn't stop activists from demanding more people be allowed to work outside of law and regulations.

    34. Re:Fuck that by Anonymous Coward · · Score: 0

      Having known a wide variety of Americans, I know of none that would work in the fields, a phenomenon that has also been seen in the news many times.

      I submit your 'wide variety' is far less diverse than you imagine. Get out of your suburb.

      I live and work in a different continent... I've known people that do three part-time jobs, or that work 80 hours a week and go to community college, or illegal immigrants from Bangledesh... I have not met a single American person that is willing to do the kind of work that migrant farm workers do.

    35. Re: Fuck that by Anonymous Coward · · Score: 0

      As a different AC, reputable companies pay the same or higher than prevailing wage for H1-Bs based on competency. Not so sure about small companies though.

    36. Re:Fuck that by Anonymous Coward · · Score: 0

      Greenspan is a sociopath. Just look at this actions over time, I would love to hear any argument why he's not.

    37. Re:Fuck that by Anonymous Coward · · Score: 1

      The only problem I have with immigration is non-working ones who effectively leech off of the dole system and take advantage of our birthright citizenship loophole (which few countries have.) So called anchor babies by being a citizen automatically entitle their parents to welfare benefits (For example, current medicaid rules stipulate that anybody who merely has a child under 18 that is a US citizen are themselves eligible for full healthcare benefits, which are actually way better than you can buy in from private insurance, and are also completely free.

      having worked through the legal bits here with my nephew. no, you cannot make your parent(s) legal by being born here. nor can you claim welfare. in fact, you have promised not to by entering the country on a visa. if you behave yourself and don't claim public benefits, your child can sometimes sponsor you.

      this level of misrepresentation ... i don't know what to call it other than lies.

    38. Re:Fuck that by s.petry · · Score: 1

      The phenomenon you should be looking at is how incredibly ignorant people are that believe this bullshit, not that people don't want to work. As soon as you provide facts showing that US people will work, people yell "but it increases prices" which tells you exactly what the problem is. Illegal immigrants don't get minimum wage and people hiring them don't have to worry about labor laws.

      --

      -The wise argue that there are few absolutes, the fool argues that there are no probabilities.

    39. Re:Fuck that by Shadow99_1 · · Score: 1

      I have lived in a rural agrarian area full of farmers, where half of the kids going to my elementary/middle/high school were the sons and daughters of farmers. Almost every one of those kids worked out in the fields at one time during the time just like their parents. Not all of them continued on as farmers as they grew up, but they certainly all worked in the field. Heck my mom even worked an extra job as a fruit picker one summer when I was younger to bring in some more money.

      So I can pretty well disprove the whole 'americans won't work in the fields' bit... I think what they generally mean is 'americans won't work in the field for less than a living wage' is more apt for being accurate. Which gets into the whole 'you don't want your foods in the grocery store to rise in price' yet it is usually middle men getting their cut that adds so much to the costs.

      Remember I'm from a rural region full of farms and while my parents were not farmers (though my dad grew up on a farm). I can tell you that the 'cheap' roadside stand prices for corn, apples, etc actually bring in more money than the farmers make at selling to the middlemen who then sell it to grocery stores (or off to places that make processed foods). In fact for a lot of local farms still run by farmers, and not corporations (corporate farms have grown huge even here over the last few decades), make so much money from the local roadside foodstand that it has become as much as 33% of their total yearly income even with having to have one or two people work it all day and the costs associated with the stand itself (transport, setup, material cost, etc).

      Cut out the middle man and make food local again and we could fix a lot of food cost issues that creates low wages for farm workers.

      --
      we are all invisible unless we choose otherwise
    40. Re:Fuck that by Curunir_wolf · · Score: 1

      Having known a wide variety of Americans, I know of none that would work in the fields, a phenomenon that has also been seen in the news many times.

      I submit your 'wide variety' is far less diverse than you imagine. Get out of your suburb.

      I live and work in a different continent... I've known people that do three part-time jobs, or that work 80 hours a week and go to community college, or illegal immigrants from Bangledesh... I have not met a single American person that is willing to do the kind of work that migrant farm workers do.

      There are plenty of Americans that do - not surprised you haven't met them since you live on a different continent. You're only meeting Americans that can afford to travel. In fact, I have done the same myself, except it was one full-time job, 1 part-time job, and a full-time load at a university.

      Americans have always been hard workers. The problem is that it is no longer getting them much benefit.

      --
      "Somebody has to do something. It's just incredibly pathetic it has to be us."
      --- Jerry Garcia
    41. Re:Fuck that by Anonymous Coward · · Score: 0

      I don't think minimum means what you think it means.

      I also don't think you've ever picked oranges.

    42. Re:Fuck that by MobyDisk · · Score: 1

      The price of oranges probably wouldn't change much at all - if they could get a penny more for them they already would be doing so. The guys who own the farm would just make less money.

      If you live where labor costs are not a significant portion of food costs and farmers are wealthy, then you do not live on planet Earth.

    43. Re:Fuck that by Anonymous Coward · · Score: 0

      Using Greenspan's broken logic:
      To stop rain, don't open umbrellas !
      To fix engineering and programming income, increase H-1B's !
      To move a Tiger just grab it's tall any pull hard !
      To talk shit just open mouth before brain is awake !

    44. Re:Fuck that by Anonymous Coward · · Score: 0

      Five years later, I spoke with her father about their business and he had to fire American workers and hire illegals in order for him to "compete" because illegals would work for food, shelter, and $10 a day. This is 2012, mind you.

      How Christian of him.

    45. Re:Fuck that by volmtech · · Score: 1

      I know who "used" to do the jobs Americans wont do, Black and White Americans. I grew up in Florida during the Fifty's. Migrant crews would pick oranges in the fall and then move farther south picking vegetables in Homestead. In the spring they migrated north picking up and packing potatoes and other fruits and vegetables moving northward as the season progressed along the East coast. My dad owned a small farm and I had the experience of picking up potatoes and cutting cabbage along side the black crew my dad hired. No welfare or food stamps but most worked on a farm and brought home extra produce to cook and sell around the neighborhood.

      Somehow everyone survived without millions of Mexicans in the fields and not a single item bought from China or any Japanese automobiles. It's not just a few workers who have been displaced by foreign goods and workers, it's everyone who sold products to and did other work for the now unemployed workers and the now shuttered mills and factories.

      Just because your great, great, great, grand pappy was a slave doesn't mean you should suck on welfare and never have to work on a farm. Remember, most of the people on welfare are white, they can do farm work too. I did it for forty years.

    46. Re: Fuck that by Anonymous Coward · · Score: 0

      Different H-1B worker here. My boss is paying me the maximum amount of money he can for my rank. It's about 50% higher than the prevailing wage. Now that would be yet another anecdote, except that I know this because as part of the H-1B process, my employer had to file a "prevailing wage request" with the government in order to prove that thy're paying me the same or more than the prevailing wage. I'm curious how, as you and others alluded, employers circumvent that process...

    47. Re:Fuck that by Sarius64 · · Score: 1

      I agree.

    48. Re:Fuck that by Anonymous Coward · · Score: 0

      Cut out the middle man and make food local again and we could fix a lot of food cost issues that creates low wages for farm workers.

      What you're missing is that the middle-men actually provide value. Most people live in cities and it just isn't practical or economical to travel out to farms to buy food. Maybe the middle-men are taking too large a cut (I can believe this, but won't assume it to be fact without solid evidence), in which case that is an issue that needs to be dealt with, but you can't get rid of them.

    49. Re:Fuck that by Rich0 · · Score: 1

      The price of oranges probably wouldn't change much at all - if they could get a penny more for them they already would be doing so. The guys who own the farm would just make less money.

      If you live where labor costs are not a significant portion of food costs and farmers are wealthy, then you do not live on planet Earth.

      They're not doing that bad.

    50. Re:Fuck that by Jawnn · · Score: 1

      Considering 50 million American out of work. One wonders that American corporations can't invest in American workforces.

      Let me make it clear for you... We don't care. Why the fuck should we care?

      Regards,

      Corportate America

    51. Re:Fuck that by Shadow99_1 · · Score: 1

      Locally at least one grocery store chain has done just that. They said 'Screw the middle man' at least when they can get it locally. The went outside the cities and looked for farms growing what they want and paid 10-20% more directly to the farmers that chose to work with them, compared to what the farmers had been getting. They also worked with the farmers to provide transportation. It's a win-win for both parties, the farmers make more than otherwise and the grocery store (while still needing additional supplies to offset things not currently growable in this area) get much higher profits on those items they can get from local farmers.

        They also get to advertise how they support local farmers and green farms. They have generally given Walmart superstores a run for their money and just in the local big city they are now dominating the chain grocers other than Walmart. Their are 8 stores for this chain in said large city, and about 4 for all other grocery chains combined as well as about 4 Walmart super centers which offer food (out of 8 Walmarts in the same area).

      So based on this example, this can actually work quite well and the middle man does not seem all that much value added to either side of the transaction. Sure not all cities have a significant farm industry nearby, but where there is taking power from the middle man makes a lot of sense. For the record I live in northwestern PA. We grow grapes, strawberries, potatoes, corn, and other staple crops and we also have a large dairy industry in this area.

      --
      we are all invisible unless we choose otherwise
    52. Re:Fuck that by Anonymous Coward · · Score: 0

      ... he had to fire American workers and hire illegals in order for him to "compete" because illegals would work for food, shelter, and $10 a day. This is 2012, mind you.

      Had to?

      Sounds to me like he made a choice to stay in business.

      There are always choices.

    53. Re:Fuck that by Sarius64 · · Score: 1

      I agree, mate. The moral of the story is plenty of people seem to have no respect for the labor of citizens and willingly break the law when it comes to their personal interests. Somehow the government never holds these people accountable to the law.

    54. Re:Fuck that by Anonymous Coward · · Score: 0

      invest? You mean like training them, not treating them like they are expandable and paying them decent wages? But that costs money! I don't see where is the profit in that ... Especially when you get international competition ready to roll over for minimum wages, already trained for free (why pay when you can freeload baby?), and that you can get rid of (almost in a far, far away galaxy) at a whim ...

    55. Re:Fuck that by gmhowell · · Score: 1

      So clearly, you haven't met a particularly diverse group of Americans.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    56. Re:Fuck that by gmhowell · · Score: 1

      You got it in one (and your followup below is pretty decent as well).

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    57. Re:Fuck that by Duhavid · · Score: 1

      "We don't care. Why the should we care? "

      Because this workforce is where most of your profits come from?
      Because this workforce is the workforce you need to get things done?

      I leave out any moral and ethical argument. of which there are many.

      Yes, both the above are going away, due to your actions. Way to take care of the "garden" you have "harvested" from.

      --
      emt 377 emt 4
    58. Re:Fuck that by AlphaWolf_HK · · Score: 1

      I don't recall advocating such a system. Seriously, what the fuck is with me taking one position and not one but five of you automatically assume I have yet another almost unrelated (and sometimes totally unrelated) position? The poster below you even seems to believe that I watch Sean Hannity, which I have no idea how that even relates to this (I have no idea what the fuck he thinks about immigration, nor do I really care.) Try to state your position on an issue and the self righteous types try to turn you into something you aren't while trying to make themselves look good. Sadly they often call this being "progressive." The prohibitionists called themselves progressive, and so did Hitler. Probably not a good label to take IMO.

      Anyways my ancestry traces back sometime prior to the revolutionary war (in fact two of them fought in it.)

      And no, that's not the reason it's still around. And your fear mongering of that scenario doesn't happen in most countries where there's no birthright citizenship.

      Also before anybody asks, the reason I'm leaving the US has nothing to do with politics. In fact the place I'm going to (New South Wales) I already know to have political views I like even less (such as believing in internet and video game censorship) but that doesn't change my opinion of it. I just want to see another place and another culture; nothing more really. I'd choose a more exotic location, but unfortunately I'm a kidney transplant candidate, and virtually all first world country transplant teams balk at the idea of even going to some place like Mexico for so much as a milisecond, so I'll avoid it.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
    59. Re:Fuck that by Rakarra · · Score: 1

      Considering 50 million American out of work. One wonders that American corporations can't invest in American workforces.

      Mostly because those corporations are interested in the BEST workers, not simply workers. They wants the ones with the best training, the ones with the best work ethic, the cream of the crop. "A worker," is not good enough, to compete globally you want the best. Oh, and it helps if the workers don't get cream-of-the-crop wages, don't unionize, and are more beholden to the company, naturally.

    60. Re:Fuck that by MobyDisk · · Score: 1

      Show me the portion of that chart that backs-up your claim that doubling the wages of food workers would not impact food prices, and that they could absorb the cost. Or were you merely going "Look! There's rich people over there!"

    61. Re:Fuck that by Anonymous Coward · · Score: 0

      Oh my, you're positively ripe. Not only have you established that you have no knowledge of mathematics whatsoever (or you would logically be angry at the real welfare queens; the corporations that we spend 1000x of our tax money on than every single person on welfare combined), but your Fox News talking point is ridiculous even by their standards.

    62. Re:Fuck that by Rich0 · · Score: 1

      Show me the portion of that chart that backs-up your claim that doubling the wages of food workers would not impact food prices, and that they could absorb the cost. Or were you merely going "Look! There's rich people over there!"

      You claimed that farmers were not wealthy. I merely demonstrated that some farmers are rather wealthy indeed. US "farmers" tend to wear suits to work.

      Care to back up your claim that labor is a significant portion of food prices?

    63. Re:Fuck that by Sarius64 · · Score: 1

      Yes, we call those slaves when their ability to work is directly tied to the master that controls them. No fan of unions, myself. However, neither am I a fan of not reinvesting in your country or culture.

    64. Re:Fuck that by MobyDisk · · Score: 1

      You showed a stock chart. It did not show any people, and it did not show how much money they had. Now you are just trolling, so I am done.

    65. Re:Fuck that by MobyDisk · · Score: 1

      Care to back up your claim that labor is a significant portion of food prices?

      Fair enough.

      Here's a few hits from Google. This is interesting because they both agree on the data, but draw different conclusions. The first one says eliminating immigrant workers would result in a 5% cost increase in the stores, which is devastating.
      http://www.fb.org/index.php?ac...

      The other says the same thing, around 3.6%, but thinks it is a good idea anyway:
      http://www.nytimes.com/roomfor...

      I find lots of articles claiming that organic is more expensive because it is more labor intensive, but few numbers to say how much. So the impact may be much greater there.

      Overall, I've never met a rich farmer before. That's not to say there aren't large multinational corporations who buy and sell food profitably. But that is a long way from farmers. Farmers often only survive because of government subsidies. Today, family farms are vanishing because a strip mall is more profitable per acre. Some family farms vanish because the estate can't pay the inheritance taxes. It's a tough industry.

    66. Re:Fuck that by Rich0 · · Score: 1

      Thanks. I guess I don't understand how a 5% increase in food prices is devastating.

      I'm also not opposed to immigration either. I just don't think that we should have second-class immigrants who can be abused in conditions/etc. As long as they get paid minimum wage and have healthcare, OSHA, etc, I don't really have a problem with legal immigration. It should be based around people who are here to stay, however, and not a migrant workforce.

  3. What a disingenuous jerk by msobkow · · Score: 3, Funny

    So Greenspan rightly pointed out that inflation means the top 1% from the '20s would be in poverty now if their wealth hadn't been subjected to inflation.

    Yeah. So what has that got to do with ANYTHING?

    --
    I do not fail; I succeed at finding out what does not work.
    1. Re:What a disingenuous jerk by Anonymous Coward · · Score: 0

      He's saying that buy increasing the pool of low income workers (low relative to the rich), you drive the general cost of goods down, and thus there's negative inflationary pressure on the rich. In other words, they well not have to inflate as much because the cost of living index will increase more slowly relative to the value of the dollar. I don't agree with his approach and think he's a rich idiot, but at least I can explain what his argument is so you can tear it apart.

    2. Re:What a disingenuous jerk by rtb61 · · Score: 5, Insightful

      Well, that is not quite true and quite frankly points out what kind of a bullshit artist Greenspan is. Basically the 1% of the 1920 owned a lot of capital assets like properties, farms, business, shares, jewellry, even what are today vintage auto mobiles and these would all have adjusted to inflation accordingly and they would be exceedingly wealthy based upon today's standards and today's property and business values. So Greenspans statement is 100% total crap.

      When you own the means of production, the means of generating wealth you are never poor, until it is stripped away from just after a bloody and ruthless revolution.

      What these asshats are alluding to is the truly disposable workforce. When you are no longer of use to psychopathic capitalism you are disposed of, parked in concentration camps for the unemployable, only let out for chain gang style mass labour projects. These are very evil people as they make no mention of reduced working hours with increased pay against productivity gains, more time for leisure and free education, with the contributions to society spread out to take into account automation.

      All these fuck heads see, is automation, ahh no expensive work force more profits for me. With no concept of who they are going to sell the shit to, other than that workers must accept significantly reduced status unless their existence is sponsored by an employer. These people are a real and present danger, a threat to humanity.

      --
      Chaos - everything, everywhere, everywhen
    3. Re:What a disingenuous jerk by MrBigInThePants · · Score: 2

      My thoughts exactly and nicely articulated.

      Well done good sir.

      I still remember as a small child in the late 70's/early 80's reading about how robots and automation were going to mean in the future we all only had to work 10 hours a week and could spend the rest of the time being creative and enjoying ourselves and leading meaningful lives.

      Under the current system can anyone see anything even approaching that happening at all?

      There is still hope however that we can realise this utopian future.

      Of course it will require stepping over the bloody corpses of a few thousand million and billionaires... ...so who's with me!?

    4. Re:What a disingenuous jerk by aliquis · · Score: 2

      So Greenspan rightly pointed out that inflation means the top 1% from the '20s would be in poverty now if their wealth hadn't been subjected to inflation.

      Yeah. So what has that got to do with ANYTHING?

      What you miss is that an iPad would had cost a lot back then!

    5. Re:What a disingenuous jerk by Anonymous Coward · · Score: 0

      parked in concentration camps for the unemployable

      Those are often called city rentals, unfortunately.

      All these fuck heads see, is automation, ahh no expensive work force more profits for me. With no concept of who they are going to sell the shit to, other than that workers must accept significantly reduced status unless their existence is sponsored by an employer.

      Those people don't realize that they are transforming themselves into sales agents for companies actually producing value in the large scale. Intellectual property and branding are the only things keeping their ship afloat.

    6. Re:What a disingenuous jerk by StripedCow · · Score: 1

      We need a new way of distributing wealth.
      Something like a formula that goes over the global total amount of "money", and the amount of "money" per person, and turns that into real money.

      Or perhaps a distribution of money based on the page-rank algorithm: every time somebody performs a useful task for another person, a "link" is created between the two persons.

      --
      If Pandora's box is destined to be opened, *I* want to be the one to open it.
    7. Re:What a disingenuous jerk by Anonymous Coward · · Score: 0

      OK, but there is obvious flaw in labor-replacing scheme: you cut down costs, but you also cut down demand. Economy ends up stalling, and subsequently falling into spiral of death. In the end, automated factories end up doing nothing for long periods of time, except occasionally producing goods only for other factories' owners. They get scrapped to reduce non-recurring losses.

      Meanwhile, on the other side there is a huge number of unemployable outcasts from high-tech society who, having no means to exchange their work for goods and other personal needs, have to use their work on directly satisfying their own needs - like in primitive societies of prehistory. Back then, they were hunters-gatherers, today they are homelesses, bums or slum-dwellers, members of cultures of garbage sifters. Back then they were raiders, today they are muggers and violent criminals. Back then, they were merchants, today they are smugglers.

      Then slowly, they will start to organize their own society, specializing in their skills and exchanging with other bums that what they individually are good at making. So, new civilization grows like a mold on festering thrash heaps of old civilization gone supernova.

      Basically, what I am arguing here is that every problem, left unmanaged and unsolved, finds its own solution, which we usually don't like. As the margins of society grow wider, its core grows more endangered and unstable. In the end, it partially reincorporates part of its estranged periphery, recruits it to protect the core against the clamoring masses of new barbarians who want to become part of the society of the rich, or, if that is not possible, pillage and burn it down.

      Now, do we rather want to have our future this as above way, or do we want it Star Trek way?

    8. Re:What a disingenuous jerk by Anonymous Coward · · Score: 0

      I was intensely disturbed by Manna when I first read it.

      And I have yet to be given a reason to stop being frightened of the immediate future.

  4. So he caused the last couple of financial crisises by Anonymous Coward · · Score: 1

    And now Greenspan wants to start the class war in America? Does this man have no ability to think long term?

  5. Comment removed by account_deleted · · Score: 5, Insightful

    Comment removed based on user account deletion

  6. Is lifting H1-Bs going to push down CEO pay???? by Anonymous Coward · · Score: 2

    Because that's the top. Not STEM.

    1. Re:Is lifting H1-Bs going to push down CEO pay???? by ShanghaiBill · · Score: 0

      Because that's the top. Not STEM.

      Get a grip. When progressives say that "the rich" should pay more, they are talking about YOU. Most STEM people are in the top 20% by household income. Most reasonable people would consider that to be "rich". You are an idiot if you believe the propaganda about it being "the 99% vs the 1%".

    2. Re:Is lifting H1-Bs going to push down CEO pay???? by LMariachi · · Score: 3, Informative

      You have a very nonstandard definition of “rich” if it encompasses the entire top quintile. (Of modern industrial/post-industrial civilizations — we’re not talking about compared to Haiti.)

    3. Re:Is lifting H1-Bs going to push down CEO pay???? by Anonymous Coward · · Score: 0

      Gates and Greenspan are not progressives.

    4. Re:Is lifting H1-Bs going to push down CEO pay???? by ShanghaiBill · · Score: 1

      Gates and Greenspan are not progressives.

      In general, no. But Greenspan was recommending reducing inequity, not by helping the poor, but by pulling down "the rich" (meaning people like you). That is certainly a "progressive" viewpoint.

    5. Re:Is lifting H1-Bs going to push down CEO pay???? by Anonymous Coward · · Score: 5, Interesting

      Greenspan thinks anyone making 'earning income' should get a smaller share of the pie. The higher paid workers, engineers, doctors, etc in Greenspan's world all of them are overpaid. Its not just Greenspan it's the whole culture in the management suite.

      For instance, an anecdote. A friend works as an executive accountant. She remarked grumbling that the execs, at the place she was working spent a about 30 minutes going back and forth over whether a manager at a store deserved a 25 cent or 35 cent an hour raise. Meaning they wasted more of the their time convincing themselves that 25 cents was the right amount than the extra ten cents would have cost. And it was all motivated by a desire not to pay more than the person 'deserved'

    6. Re:Is lifting H1-Bs going to push down CEO pay???? by sjames · · Score: 1

      Actually, according to most of the world, STEM is working class. You don't get to rich until you can just stop working tomorrow and never worry about needs for the rest of your life. (Indeed, in many cases passive income will keep coming in so your grandchildren will be rich too).

      Many CEOs could do just that nad live a middle class lifestyle AND leave their kids enough that they don't have to work either.

      You are the victim of propaganda meant to convince you that your fortunes lie closer to Bill Gates than a Starbuck's barista so you won't vote against the interests of the rich. It seems to have worked very well so far.

    7. Re:Is lifting H1-Bs going to push down CEO pay???? by sjames · · Score: 1

      But conveniently leaving the people in his category of rich alone. Again, if you cannot just quit working tomorrow and never worry about how much money you have left, you are working class.

    8. Re:Is lifting H1-Bs going to push down CEO pay???? by Sarius64 · · Score: 2

      Every grant and aid program package my kids wanted to fill out would disagree with you. Certainly none of them ever asked me if I went without food as a child, or watched other kids get holiday toys while I wondered if we would have a home in the middle of a blizzard. Now all they do is look at my income. Certainly not my assets. Assest would open up having the true 1% paying into the system.

    9. Re:Is lifting H1-Bs going to push down CEO pay???? by Curunir_wolf · · Score: 1

      ...so you won't vote against the interests of the rich. It seems to have worked very well so far.

      I don't think that means what you think it does. Somehow the very rich have managed to convince people that libertarian ideas are what the rich want, but you only ever see the very wealthy like Gates, Greenspan, Buffet and others supporting progressive agendas.

      --
      "Somebody has to do something. It's just incredibly pathetic it has to be us."
      --- Jerry Garcia
    10. Re:Is lifting H1-Bs going to push down CEO pay???? by sjames · · Score: 1

      Progressive? I don't think so. Note how Greenspan' plan convieniantly leave the actual rich out of the income inequality 'fix'.

  7. More H-1Bs? by Old+VMS+Junkie · · Score: 4, Insightful

    I can't see the logic with this one. Off-shore even more well-paying jobs to low-cost replacements in third world countries? How does that fix income inequity? The H-1B visa is being perverted by big business. It was intended to bring skill workers to the US, presuming that at least some percentage of them would stay and add to the economic engine. In practice, these visas are used by shell companies to bring migrant workers here to train, then return to their off-shore operations centers, taking permanent positions with them. Greenspan is correct only in the theoretical use of the H-1B, not in it's actual practice.

    1. Re:More H-1Bs? by Anonymous Coward · · Score: 0

      The logic is this: if I'm giving out jobs I'll try to get the lowest salary. If salaries in the US are too high, I'll take my business elsewhere. So which situation do you prefer? Low paying jobs? Or no jobs?

    2. Re:More H-1Bs? by currently_awake · · Score: 1

      H1B vistas were designed to drive down American wages by forcing American workers to compete with workers from the third world for American jobs. If they actually wanted to eliminate shortages they would have fast track immigration for skilled workers, not temporary work permits. No corporation wants to train workers to fill gaps when they can get foreign workers for cheap.

    3. Re:More H-1Bs? by Sarius64 · · Score: 1

      Funny we never see Microsoft advocating citizenship for H1B visa holders.

    4. Re:More H-1Bs? by usuallylost · · Score: 1

      Funny we never see Microsoft advocating citizenship for H1B visa holders.

      I worked at a company that had a significant number of H1B visa holders. Most of them were sincere young engineers who wanted to move to America and become US citizens. What they got was basically indentured servitude at a US tech company. They don't have the freedom to easily change employers from the one that sponsored them here. The end result was they got paid substantially less than their US counter parts. Having this labor force without the freedom to easily quit pretty much allowed management to treat everybody poorly. After all management knew they could replace just about anybody with a H1B visa holder and pay them half. The one advantage that they got was when the company got into trouble they were not the ones who were laid off. As it is structured now I think the H1B program has nothing to do with their being a "shortage" of skilled scientific and technical labor. It has everything to do with companies wanting to suppress wages for US tech workers. At least that appeared to be the motivation at my former employer. They used those guys to allow them to cut wages and bring down benefits.

      I don't blame the H1B visa holders at all. I knew a bunch of these people and they were hard working honest people. Frankly they are exactly the sort of immigrants we want in this country. I doubt if any of them have cost the US government one cent. In my view they are actually victims in this in that they have to put up with years of abuse until they can qualify for a green card on their own. That the visa program is designed to exploit them and screw the American tech worker at the same time isn't their fault.

    5. Re:More H-1Bs? by Anonymous Coward · · Score: 0

      H-1B jobs don't go off shore, they live and work in the US.

    6. Re:More H-1Bs? by Your.Master · · Score: 1

      You absolutely see Microsoft advocating permanent residence for H1B holders, which in economic terms is basically the same thing as citizenship and is in any case a necessary step.

      For instance:

      http://www.infoworld.com/t/fed...

      " Microsoft has called on the feds to issue 20,000 more H-1B visas and 20,000 additional green cards per year"

      Exactly one more green card per extra H-1B.

  8. Greenspan wants to eliminate the skills premium. by russotto · · Score: 5, Interesting

    When he talks about eliminating inequality by bringing the top down, he doesn't mean bringing down the 1%ers like himself and Gates. He's talking about bringing down all the skilled workers in the top 5-10% down to the level of unskilled workers. This doesn't actually reduce income inequality (it actually makes it worse), so he's full of crap. This has long been Greenspan's desire; it annoys him to no end that people who do things can aspire to salaries as high as lower-level banksters.

  9. Greenspan? by PPH · · Score: 5, Insightful

    I thought he'd been laughed out of Washington DC following the mortgage securities fiasco.

    former Federal Reserve Chair Alan Greenspan believes one way to attack income inequity is to raise the H-1B cap

    Econ 101 - Supply and Demand. You just increase the supply and prices go down. So, what does Al think the 'bottom' is? H-1B visas for tech workers hit the middle class. The bottom is the fast food, dishwasher, gardener, etc. That's the people who wade across the Rio Grande. Fast food restaurants and farms don't go through the H-1B process for labor.

    How about we import some lower priced talent for the executive offices? That'll fix inequality. Seriously, I've seena number of situations where corporations on the edge of failure were sold to foreign firms and are now being run quite profitably. Same factory, same tools, same unions. Better managers.

    --
    Have gnu, will travel.
    1. Re:Greenspan? by plopez · · Score: 4, Insightful

      There are a number of mines and chemical plants where I grew up. In the 80's as Americans shifted to selling fraudulent securities and "brand management" some of these were bought out by overseas companies. The workers of the the plants that did not get bought out were envious. The management improved that much. The people I knew working there would say things like, "I don't care who buys us out; Germans, French, Japanese, or whoever. As long as we get rid of American management".

      Note that pay and benefits did not change, but the reports I got was things got more streamline and logical with less focus on punishment.

      --
      putting the 'B' in LGBTQ+
    2. Re:Greenspan? by careysub · · Score: 5, Insightful

      I thought he'd been laughed out of Washington DC following the mortgage securities fiasco.

      ...

      As long as you are saying what serves the interests of Big Business and people of fabulous wealth, inherited and otherwise, you will always be a respected commentator whose words command solemn attention, and be widely reported.

      --
      Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
    3. Re: Greenspan? by Anonymous Coward · · Score: 0

      Rupert Murdoch was Australian, then became an American citizen. See, we are already outsourcing CEO positions!

    4. Re:Greenspan? by Mabhatter · · Score: 2

      My company was bought out by Brazilians about 6 years ago to the same thing. Unfortunately, when the company came to the USA they bought the "best lawyers" and totally screwed up their first buyouts. But my company drastically improved conditions and still is. It's heavy manufacturing and it's gone from being "better than average" safety which was passable for American Management to Very Good safety. Again, less focus on firing people and more on managing them so they don't screw up in the first place.

      I've seen some of the numbers and our division leads the overall company in the production per man-hour metrics by a wide margin. Of course with wage adjustments and other expenses that comes back down, but "low profit" was more about American managers bleeding red ink out of the "office" end of the business, not the worker's end. Had it not been for their management in the 2008 crash, we'd be closed now and out of a job... our American parents back then had absolutely no "business skill" in running us.

    5. Re:Greenspan? by Anonymous Coward · · Score: 0

      You've never been bought out by a Dutch company before have you? The stereotype of the Dutch being infamously cheap is true. They were the original slave traders who bought slaves to America. That attitude still carries over today. To the Dutch, you the worker in their new acquisition are simply an overpaid slave. They will invest in the company, but not its workers. The grass isn't always greener on the other side. Europeans can be just as much of a greedy bastard as Americans.

    6. Re:Greenspan? by Anonymous Coward · · Score: 0

      The grass is always greener on the other side of the fence. Brazilian here. 10 years working for Brazilian companies as an employee. I'm now on an American company. Better benefits, training, management and awesome overtime.

    7. Re:Greenspan? by plopez · · Score: 2

      But I guess the question is, why isn't American management better? The US has the reputation of the best business schools in the world, why can't they do a better job?

      --
      putting the 'B' in LGBTQ+
    8. Re:Greenspan? by bhiestand · · Score: 1

      But I guess the question is, why isn't American management better? The US has the reputation of the best business schools in the world, why can't they do a better job?

      I would argue that American managers are, by far, the global leaders in extracting wealth, be it from natural resources, human capital, or corporations.

      Of course, being able to extract wealth from a company should not make one a good executive, but... perhaps this is what happens when there is no moral hazard for management?

      --
      SWM seeks new sig for a brief fling
  10. Re:Need for long-term view of society by plopez · · Score: 1

    +1

    --
    putting the 'B' in LGBTQ+
  11. Move. by Karmashock · · Score: 2

    The real solution is to move.

    The jobs aren't where they were before... Look at the entire planet when you do a job search and see things in a new light.

    --
    I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    1. Re:Move. by SeeManRun · · Score: 1

      Move is possible with international corporations. People cannot just move to another country. It takes years to immigrate to another country, possibly your prime earning years. If my job is outsourced to India for 20% of my pay, I cannot simply move to India to take up that job. And I can't really take an 80% paycut and continue my job here. It just doesn't work. The free market needs to start thinking more protectionist, or there will be a revolution if what is predicted by Bill and Alan comes to pass.

    2. Re:Move. by artor3 · · Score: 5, Insightful

      Holy shit, how can people be so clueless. You think an unemployed programmer should just pack up his family, ditch his mortgage, and move to fucking Vietnam to work for a dollar a day? When is he going to find the time to learn a language, while he's struggling to feed his family? How's he going to afford the trip? What makes you think his chosen country will even allow him to immigrate in the first place? What makes you think there will even be jobs there, if the problem is technology making human labor unnecessary?

      No, you know what he can, should, and will do? He'll fucking murder you, and take your stuff. If your world view relies on the underclass laying down and dying for your convenience, you're going to be in for a rude, and fully deserved, awakening.

    3. Re:Move. by CommanderK · · Score: 1

      No, you know what he can, should, and will do? He'll fucking murder you, and take your stuff. If your world view relies on the underclass laying down and dying for your convenience, you're going to be in for a rude, and fully deserved, awakening.

      That is a horrible and seriously criminal attitude. You're arguing that if others don't give you something you need, it's fine to just murder them (your words, not mine). Unprovoked violence is never justified; whatever your problems might be, you have to solve them peacefully (unless you get attacked first). This kind of Robin Hood-style violence does not belong in a civilized, developed society.

    4. Re:Move. by antifoidulus · · Score: 2

      You seem to assume that open borders are a two-way street. Guess what, it's a hell of a lot easier for a Chinese or Indian person to get a US working visa than it is the other way around(note I didn't say impossible, but both countries are extremely protectionist of their native workforces)

    5. Re:Move. by Anonymous Coward · · Score: 0

      You missed his point. He's saying it is provoked. That's his entire point.
      As for Robin Hood-style violence not belonging in a civilized, developed society, since when?
      We get plenty of systemic legalized taking from the poor to give to the rich.
      Historically, taking it back, even in 'civilized' society has been extremely common.

    6. Re:Move. by Anonymous Coward · · Score: 0

      It's not unprovoked.

    7. Re:Move. by Jeremi · · Score: 5, Insightful

      This kind of Robin Hood-style violence does not belong in a civilized, developed society.

      The society in question -- one that has decided that its lower classes should just lay down and die, because they are no longer economically productive -- is not a civilized, developed society.

      --


      I don't care if it's 90,000 hectares. That lake was not my doing.
    8. Re:Move. by Karmashock · · Score: 1

      What? Other countries have more restrictive immigration policy then the US? But I thought we were the bigots!?

      You make a good point... it should be used when immigration reform is brought up.

      Reciprocal immigration policy would be pretty funny. Mexico would suddenly have to reform their visa process and the whole "you're racist" argument would evaporate.

      Regardless, you can work other places. Expand your search to beyond where you live right now. It isn't reasonable to think that area is going to be a good job market forever.

      --
      I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    9. Re:Move. by sjames · · Score: 1

      It is a Robin Hood style situation. The corrupt sheriff was stealing from the poor to enrich himself and his cronies.

      The rich have been waging class warfare for quite a while now. It is anything but unprovoked if the poor (and former middle class) fight back.

    10. Re:Move. by Karmashock · · Score: 1

      Sure you can. My family has moved many times. Pretty much every generation has moved and some generations have moved a couple times starting over completely every time.

      We went from starving in europe under various forms of oppression to being middle class in America. And while here we've had ups and downs but typically moving signaled the beginning of a new chance and we have tended to do much better after a move. Often going into completely different businesses or lines of work. And we've generally prospered after a move.

      If you root yourself to one spot then why did you come to the US in the first place? How did you come here if people don't move?

      Learn to move. Learn to adapt.

      The reason most places we live are so tough is that they have little to offer us.

      Fine. Look at the world. Someplace wants you. Go there.

      --
      I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    11. Re:Move. by Anonymous Coward · · Score: 0

      Look up the Russian Revolution and the French Revolution. Piss off the lower classes enough and they will eventually revolt and kill you. Its an undeniable part of history that today's corporate plutocracy wants to ignore. There is the reason why the NSA is collecting all the data on everyone, so it can stop a revolution from forming in the United States before it can start.

    12. Re:Move. by Rich0 · · Score: 1

      That is a horrible and seriously criminal attitude. You're arguing that if others don't give you something you need, it's fine to just murder them (your words, not mine).

      Of course it is wrong and criminal. However, I am concerned that if we as a society don't do something to actually provide a living wage for the average person who is never going to work for Google, then that is a state we might just find ourselves in one day. If a mob shows up at our doorsteps because we actually live in a decent house, they're not really going to be impressed by either of our arguments concerning morality.

    13. Re:Move. by Anonymous Coward · · Score: 0

      "Starving in Europe" to middle class America. Hmm, I wonder why it was such an easy thing to do.

      "Go there." You haven't really thought it through have you?

    14. Re:Move. by gmhowell · · Score: 1

      Others have pointed out that you are wrong concerning whether the violence is 'unprovoked'. I submit that you are also wrong in saying that the GP is trying to justify this behavior. He is not. He's predicting it. And explaining the genesis of it.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    15. Re:Move. by Anonymous Coward · · Score: 0

      "You think an unemployed programmer should"

      The unemployed programmer chose his profession. Man up.

    16. Re:Move. by Karmashock · · Score: 1

      Who said it was easy?

      They took risks, were clever about it, and worked hard.

      Fuck you.

      --
      I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    17. Re:Move. by CommanderK · · Score: 1

      To me, the only valid provocation for violence is preceding violence (the only justified violence is self-defense). Someone not giving you their money is not "provocation" in my book. The difference between justifying and predicting it is simple: if it's just a prediction, then you also accept measures to prevent it (any measures, such as everyone arming themselves against these thieves).

    18. Re:Move. by CommanderK · · Score: 1

      The Russian Revolution was a disaster, and brought about a century of poverty, crime and suffering (in Russia and a lot of Eastern Europe). Also, the revolutionaries killed not just the "rich oppressors", but also a lot of people they just didn't like: intellectuals, artists, scientists, small business owners and so on (including some of their own). Personally, I'm fine with preventing something like that from happening again, but not by giving into their demands.

    19. Re:Move. by sjames · · Score: 1

      How about if a group of someones systematically shut you out of the opportunity to earn money?

    20. Re:Move. by Anonymous Coward · · Score: 0

      No, you know what he can, should, and will do? He'll fucking murder you, and take your stuff. If your world view relies on the underclass laying down and dying for your convenience, you're going to be in for a rude, and fully deserved, awakening.

      This.

      South African here. I've witnessed firsthand the descent of South Africa into lawlessness to the point where it's just a way of life. The US, worryingly, seems to be on the same trajectory.

    21. Re:Move. by CommanderK · · Score: 1

      Then murder is definitely not justified (or even theft). Like it or not, you're competing against that group for money/resources, so you have to beat them in reasonable and legal ways.

    22. Re:Move. by sjames · · Score: 1

      It's justifiable homicide if they stand between you and the ability to keep your family from starving.

    23. Re:Move. by gmhowell · · Score: 1

      By 'valid' provocation, do you really mean 'justified'? I would say so, given the parenthetical statement in your first sentence. While I tend towards agreeing that 'someone not giving you money' does not 'justify' violence, it may explain violence commited by another. It just seems that you're conflating a few things and ascribing motives to artor3 that aren't really present in his comment.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    24. Re:Move. by CommanderK · · Score: 1

      We get plenty of systemic legalized taking from the poor to give to the rich.

      Such as? If you're going to say "taxes", I'll object; taxes hit poor people the least.

    25. Re:Move. by Rakarra · · Score: 1

      I'd say overdraft fees for one, where any charge made when you have zero (or less) means you get a $35 fine. This is a problem for really poor people because they are constantly riding the line close to broke. They don't have the ability to maintain a balance because they don't have the money to outstrip basic expenditures. So say they want to just use cash? That's great, businesses charge $8 or more to cash a check with no account. It's called a poverty tax. So many, so many things feed into this. Say, your car has a flat tire. You don't have cash on hand to fix it. You can't drive to work. Now you're out both the cost of the tire and a day's wages.

      Payday loan stores profit by giving you advances on paychecks. Sometimes, when you're dirt poor and so you have nothing in your checking account, you -really- need a payday loan. And if you can't pay it back in the 14 days, expect to pay triple your loan amount in a few months.

      There are tons of things like this scattered throughout our society that people with means don't think about.

      (I have to credit John Cheese on this. He's been there)

    26. Re:Move. by strikethree · · Score: 1

      That is a horrible and seriously criminal attitude. You're arguing that if others don't give you something you need, it's fine to just murder them (your words, not mine). Unprovoked violence is never justified; whatever your problems might be, you have to solve them peacefully (unless you get attacked first). This kind of Robin Hood-style violence does not belong in a civilized, developed society.

      This (your) response is perfectly expected and accepted in a civilized society. Once the civility is removed from the society (all the resources), you should expect "the law of the jungle" to be the natural state.

      Ultimately, we are all animals no less than a wolf or a tuna fish. Our uniqueness allows us to create structures above and beyond what the other animals can. The base of these structures is the ability to more easily fulfill our will to eat and live. Once it becomes as difficult to eat and live within the structure as it is outside of the structure, you will see people either tear down and rebuild the structure or just ignore the structure entirely.

      Your ideas of right and wrong, peace and attack, criminality, etc. come from the rules associated with that structure. Without those structures, there is nothing wrong with me killing you, raping your wife, enslaving your children that are useful and killing those that are not.

      It is in your (and my) best interest to keep society civilized and fair. Some people seem to think that is not the case and that is why we are having this conversation at all.

      --
      "Someone needs to talk to the tree of liberty about its ghoulish drinking problem." by ohnocitizen
  12. Everyone calm down... by asmkm22 · · Score: 2, Interesting

    What is this? "Read the headline and comment" day? Greenspan is saying that the US education system is broken, and needs to be fixed.

    "We cannot manage our very complex, highly sophisticated capital structure with what's coming out of our high schools," said Greenspan, former chairman of the Federal Reserve."

    He talks about having to expand the H-1B system if we don't actually address the problems in our education system here in America. Read the fucking article, people.

    1. Re:Everyone calm down... by russotto · · Score: 4, Insightful

      "We cannot manage our very complex, highly sophisticated capital structure with what's coming out of our high schools," said Greenspan, former chairman of the Federal Reserve."

      That's a red herring, because we don't need to; we need to manage it with what's coming out of our universities.

    2. Re:Everyone calm down... by Anonymous Coward · · Score: 1

      You mean the education system that is already turning out at LEAST 2X as many QUALIFIED people as the job market can absorb today? That broken system?

    3. Re:Everyone calm down... by Anonymous Coward · · Score: 0

      > We cannot manage our very complex, highly sophisticated capital structure with what's coming out of our high schools,

      That simply isn't true insofar as the capital structure is not complex and not sophisticated. High School educations will never cover the legal loopholes created to keep the long tail intact or the basic corporate strategies that change every few years.

      > He talks about having to expand the H-1B system if we don't actually address the problems in our education system here in America

      Which can only make things worse, even with a broken education system. Maybe you should focus less on what you're being told versus what he's really saying. Screw the middle class, how can I make it worse for them by making way for the corporate case to replace government programs? Classic Greenspan foolery.

    4. Re:Everyone calm down... by PPH · · Score: 4, Insightful

      "We cannot manage our very complex, highly sophisticated capital structure with what's coming out of our high schools," said Greenspan, former chairman of the Federal Reserve.

      That complexity and sophistication turns out to have been a game designed to keep worthless securities moving in the derivatives market. Standardized, regulated OTC derivatives was something Greenspan fought against. And then later admitted that he'd messed up. Standardized derivative contracts are the sorts of things that don't take Wall Street geniuses to generate. That becomes a clerical function that the average banker/broker can handle.

      if we don't actually address the problems in our education system here in America.

      One of the biggest problems of our American higher education system is the practice of injecting funds into the system as student loans. Loans that push the demand side of the higher education market up, causing an endless cycle of bigger loans and higher tuition. As a side effect, securitized student loans provide the investment market with a near zero risk of income due to the difficulty of loan discharge through bankruptcy. Another gift to the 1%.

      Provide more direct assistance for tuition, effectively making the government a 'single payer' in the market with more clout to hold tuition and other expenses down.

      --
      Have gnu, will travel.
    5. Re:Everyone calm down... by asmkm22 · · Score: 1

      Maybe you've missed just how piss poor the quality of people coming out of our universities really is. Most are partying their years away while pursuing some liberal arts or psych degree, when what we need is STEM graduates. It gets worse when you look at everything other than the top-tier uni's and start to see the crap coming out of various for-profit "tech" schools.

      Or we can take a look at high school, and see how there is practically no correlation between good grades and actual intelligence or knowledge. If you show up to class, and make sure you do whatever shit-ton of extra credit is available, you'll get 3.8+. The kids graduating from high school today largely ARE crap. The thing is, it's always been like that. We just had a healthy middle-class-friendly society where anyone could make a living working in a factory or whatever. But now that those opportunities are gone, we have to figure out what to do with all the chaff.

    6. Re:Everyone calm down... by Anonymous Coward · · Score: 0

      That complexity and sophistication turns out to have been a game designed to keep worthless securities moving in the derivatives market.

      Incorrect, and I'm taking the time to point this out because it's important for what happens next.

      That complexity and sophistication weren't designed for the derivatives market. They weren't "designed" for anything, they were the natural product of an organically grown system. And the derivatives market was designed to exploit them.

      Always, the system comes first - then the exploits.

      Remember that, when you're designing the next system.

  13. This shouldnt be a surprise. by Anonymous Coward · · Score: 3, Insightful

    a few decades ago to shift some gravel or move some snow it took a crew of people with shovels. now, one guy in a skid-steer. dozens of people doing paperwork fixed by software. auto manufacturing relies on robots. technology kills jobs all the time. and technology is exponential, we can expect to remove huge swaths of jobs in the coming years. our economy is going to have to shift. we need robots doing everything for us but we need them to be in some way financed so that they can do the work without the bulk of the population dying of starvation. if that means rebellion against robocorp, or richman inc, then so be it :)

    1. Re:This shouldnt be a surprise. by Jeremi · · Score: 1

      we need robots doing everything for us but we need them to be in some way financed so that they can do the work without the bulk of the population dying of starvation. if that means rebellion against robocorp, or richman inc, then so be it :)

      The above is probably accurate. The fix doesn't necessarily require a rebellion against RoboCorp, though; the problems could be addressed through legislation. E.g. imagine a robot tax, such that the owner of each robot is required to pay $x per year to operate that robot (the fee would probably vary depending on the type of robot, etc). The proceeds of that tax are then divided up equally and given to each citizen to use however they want.

      This would drive the Republicans absolutely nuts, of course, but it would at least (probably) keep the public from starving and rioting in the streets. If the robots were productive enough, it might even improve the average standard of living, since people would then be free to do whatever avocation they enjoy, rather than being forced to do menial labor just to keep food on the table.

      --


      I don't care if it's 90,000 hectares. That lake was not my doing.
    2. Re:This shouldnt be a surprise. by Sarius64 · · Score: 1

      Again with the Republican gripes. On what world do you believe the Democratic party is any different from Republicans? Do Democrats love you any more? Do they wipe your butt? They certainly steal money from you just like Republicans. Even more since Obama signed the largest tax increase ever calling it health care Those same Democrats will institute robots tomorrow if it gets them elected and capable of staying in power. Anything else would be foolish from a political point of view.

    3. Re:This shouldnt be a surprise. by Joe_Dragon · · Score: 1

      the GOP made them take out stuff in the health care plan and back in 1993 killed the idea of an better plan and came up with ideas that are now the Obama health care plan.

    4. Re:This shouldnt be a surprise. by Jeremi · · Score: 1

      Sarius, I didn't say anything about the Republicans that they wouldn't happily acknowledge about themselves. "Wealth redistribution" is one of their primary complaints about Democratic policies, and they would certainly see the proposed tax as an egregious example of that.

      As for whether Democrats are better or worse or different or whatever, I don't think I want to get into that discussion with you, it's old and tired.

      --


      I don't care if it's 90,000 hectares. That lake was not my doing.
  14. Lol by Anonymous Coward · · Score: 0

    Fix Equty problems ..... there fixed that for you.

  15. Bill Gates and Alan Greenspan .. by DTentilhao · · Score: 2

    "Bill Gates and Alan Greenspan, in separate forums here, offered outlooks and prescriptions for fixing jobs and income."

    One fucked up the software industry and the other fucked up the world economy, what an example ...

    1. Re: Bill Gates and Alan Greenspan .. by Anonymous Coward · · Score: 0

      Bill Gates has a very real agenda: lower salaries for tech workers so him and buddies can get richer faster, it's pretty simple really.

  16. Re:So he caused the last couple of financial crisi by PPH · · Score: 2

    Greenspan is a sock puppet for the banking industry. He was outed when he basically said, 'Oops. I fucked up' after the derivative market collapsed in 2007. I thought he wouldn't have the balls to open his mouth again after that fiasco.

    --
    Have gnu, will travel.
  17. H1-B Isn't the answer by Anonymous Coward · · Score: 0

    Introducing more H1-B VISAs won't bring down the top. It won't put Wall St traders on smaller incomes. It won't put CEOs on smaller incomes. Tell me how a H1-B VISA will make it cheaper to have a head of the Fed. Tell me how the H1-B program makes it cheaper for the government to employ Alan Greenspan as chairman of the Federal Reserve.

    But with so many unemployed, why is the H1-B scheme needed?
    Why can't more people be appropriately trained and educated here?

  18. Living in 1925 kinda sucked by rsilvergun · · Score: 5, Insightful

    There have been a _ton_ of advancements that become available when you have money. Medical Science has advanced to the point where we can do maintenance on the human body and improve it in general. This can be as simple as your kid's braces, or as complex as resurfacing your hip so you can walk without a cane in your 50s.

    Also, what's "necessary" is defined by employers. If I'm going to function as an office worker I'm expected to have a car, cellphone, college education, etc. If I don't have these I become unemployable... I lose access to all of the benefits I described above.

    Also, why in God's Green Earth are we talking about regressing to the 1920s? When did we give up on progress? When did poverty become an acceptable condition? When I was a kid we'd already sent a man to the moon. Keeping kids out of poverty seemed simple by comparison...

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:Living in 1925 kinda sucked by ATMAvatar · · Score: 5, Insightful

      Also, why in God's Green Earth are we talking about regressing to the 1920s? When did we give up on progress? When did poverty become an acceptable condition?

      It became acceptable (to those making the statement) around the time it became obvious that you cannot concentrate the wealth of the world much more than it already is without placing most of the population into poverty.

      --
      "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
    2. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 5, Insightful

      It became acceptable (to those making the statement) around the time it became obvious that you cannot concentrate the wealth of the world much more than it already is without placing most of the population into poverty.

      To be more clear: you cannot accumulate wealth into a small group of people faster than the economy grows on the whole without invoking a zero sum game. The current leeching of the economy by the wealthy is faster than the economy is growing which is only sustainable through wealth transferral instead of wealth creation.

    3. Re:Living in 1925 kinda sucked by pspahn · · Score: 0, Flamebait

      Also, what's "necessary" is defined by employers. If I'm going to function as an office worker I'm expected to have a car, cellphone, college education, etc.

      I think it's pretty sweet that I have none of those three things you mentioned and am still able to bring in a nice paycheck. Sometimes all you need is hustle, or as my dad says, "you don't catch a rabbit without shaking a bush."

      --
      Someone flopped a steamer in the gene pool.
    4. Re:Living in 1925 kinda sucked by fuzzyfuzzyfungus · · Score: 1

      Also, why in God's Green Earth are we talking about regressing to the 1920s? When did we give up on progress?

      Well, the Great Depression hadn't happened yet, and none of that commie 'New Deal' nonsense, so if you would really prefer to keep partying like the Gilded Age hasn't quite ended, you might see a trip back to the '20s as progress...

    5. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 1

      Further, as wealth creation lies in giving capital (steel tooling) into the hands of everyone you can, leeching the economy reduces the rate of growth of the economy, causing more leeching.

    6. Re:Living in 1925 kinda sucked by El+Puerco+Loco · · Score: 5, Funny

      Next time just write "I am a total asshole." It will get your point across much more succinctly.

    7. Re:Living in 1925 kinda sucked by etash · · Score: 0

      scientifically untrue. if the world economy grows each year by 3% (let's say 3.000.000.000 dollars) we can have people who can get richer each year by let's say 10% where that 10% can be let's say 1.000.000 dollars. We can have 3.000 such people in order to reach to the point where your assumption would have to be true.

    8. Re:Living in 1925 kinda sucked by DarkOx · · Score: 1

      That's the problem it seemed simple. 10 years of seriously trying put us on the moon. 60 years later we're still fighting the war on poverty. Oh no bother looking all is Marxist societies, they all collapsed. Poverty is probably the most complex and difficult problem we face. Solving it is often a conflict with other things we value highly.

      --
      Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
    9. Re:Living in 1925 kinda sucked by Lumpy · · Score: 5, Insightful

      No it's not. business owners need to be forced to pay honest wages. Paying people wages that are so low that you can not live even in a squalor home is dishonest (minimum wages below $10 an hour)

      Then you get even more dishonest business owners that pay their book keeper $12-14 an hour. That person went to fucking college and just because she is a woman you think you can pay her a pittance? Sorry, but being a business owner is not about being rich, it's about following a dream and making a living. you DO NOT forsake your employees so you can live more comfortably.

      Right now the environment is ripe for employee abuse and has been for the past 10 years. Luckily I work for a guy that treats the employees right. he lives like the rest of us do, he gives guys raises every 6 months and even gives us all a profit sharing bonus every year 2 weeks before Christmas.

      Want a good corperate example of Greed? Comcast.

      Comcast has so much money they want to buy Time Warner.. WTF? why not put that money into Comcast and upgrade service and infrastructure as well as employee pay levels for the bottom 90% in the company? Every single customer of comcast's HATES the company, the quality of service, and the quality of the product. I have never found anyone that has said "I love comcast, they have the perfect everything!" The only reason they make money is they hold monopolies in 99% of their markets.

      Fix the infrastructure, fix the service, fix your employees, fix the business. THAT is honest business, not what corporate america is doing.

      --
      Do not look at laser with remaining good eye.
    10. Re:Living in 1925 kinda sucked by RabidReindeer · · Score: 2

      scientifically untrue. if the world economy grows each year by 3% (let's say 3.000.000.000 dollars) we can have people who can get richer each year by let's say 10% where that 10% can be let's say 1.000.000 dollars. We can have 3.000 such people in order to reach to the point where your assumption would have to be true.

      Doesn't matter. Most recent income stats have shown the upper crust to be getting quite a bit more than 10% richer. While the vast majority of people got considerably less than 10% richer. Less-than-inflation richer in some cases. That's a formula for revolution.

    11. Re:Living in 1925 kinda sucked by ThosLives · · Score: 1

      Price floors have never worked in all of history; I don't know why people think a wage price floor is a good idea. At best, with minimum wage, the long term effect is "nothing".

      We don't need people to have higher incomes; we need things to cost less.

      Somewhere along the way, society went from improving standard of living by creating new efficiencies to improving standard of living by taking as much profit from others as possible. The former is a sustainable non-zero-sum game, where the latter is zero sum and results in massive wealth concentration.

      Raising minimum wage won't reduce the cost of rent, won't reduce the price of a new car, won't reduce the price of a gallon of milk, won't reduce the cost of health care. The only thing that will reduce prices is removing barriers to entry for things that don't need barriers - not adding more barriers.

      (I wish, for instance, one of the provisions of the ACA was a new medical school in every state for instance and/or reduced requirements for general medical practice - bumps and bruises kind of stuff. That would reduce costs, not simple spreading costs among more people.)

      --
      "There are a dozen opinions on a matter until you know the truth. Then there is only one." - CS Lewis (paraprhase)
    12. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      The children of poor people are indeed total assholes.

    13. Re:Living in 1925 kinda sucked by BVis · · Score: 2

      We don't need people to have higher incomes; we need things to cost less.

      Terrific, please tell us how you plan to rein in corporate profits and executive salaries to achieve this. Then tell us how you won't be sued out of existence or harassed until you give up and move to someplace where there are no phones.

      The only thing that will reduce prices is removing barriers to entry for things that don't need barriers - not adding more barriers.

      Oh, you're one of those 'invisible hand' guys. Nevermind, no point in continuing.

      --
      Never underestimate the power of stupid people in large groups.
    14. Re:Living in 1925 kinda sucked by Shadow99_1 · · Score: 1

      A large part of this is on economists believing regular inflation is health for an economy and deflation is abhorrent. Part of that makes sense as inflation is required to a growing economy (numerically). On the other hand your tactic would see a stagnant economy, on purpose, at best and a reduction at worst as prices would have to stay the same or go down and could not go up. Which btw is effectively a price floor done another way.

      Even with a low 'barrier to entry' many markets have dominant players that can safely ignore the little guys in their market. Look at the cellular industry in the US for example... Verizon, AT&T, and Sprint have long ignored even their fourth largest rival T-Mobile (which now Sprint wants to buy). Even if it cost nothing for a new Cellular carrier to start up nationwide they would have to build from scratch against far larger entrenched players. They also would have to somehow prove to customers what makes them special compared to what they already have. Their are reasons many markets become a collection of a few monopolistic players.

      So in essence, I don't see your idea working much better in the real world. While I would love a $0.10 loaf of bread like China or India, we have bread for over $1 because we have inflation which in turn is built on an expanding economy. For another example of this see the housing market in China. The rich are getting all the money from their recent economic expansion and in turn this has risen housing prices sky high (well above what a regular citizen can earn in more than half their lifetime) and even those rates are rising at over 20% per year.

      --
      we are all invisible unless we choose otherwise
    15. Re: Living in 1925 kinda sucked by JWW · · Score: 0

      Screw you. The invisible hand has always worked way way better at improving people's standard of living than kill/steal from the rich policies ever have.

      Why is up with all the nouveau communists these days? It's not going to magically work better this time.

    16. Re:Living in 1925 kinda sucked by ThosLives · · Score: 1

      I suppose I could have been a bit more precise: when I said we don't need higher incomes but things to cost less, what I should have said was "things to cost less relative to income, regardless of level of income." That said, my original assertion still stands: raising minimum wage will not reduce costs of items relative to wage in the long run (in the immediate short term it does, granted; but prices for most goods change much faster than wages so catch up quickly.)

      Incidentally, removal of barriers to market entry is exactly the method to "rein in" corporate profits: profits are a sign of an inefficient market. Huge profits can only exist when it is too hard for competitors to enter a market - no invisible hand necessary. (Note: "too hard" to enter a market doesn't always mean something like a regulatory barrier; if a company out-innovates others, that is also a type of barrier.)

      --
      "There are a dozen opinions on a matter until you know the truth. Then there is only one." - CS Lewis (paraprhase)
    17. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      I, for one, loved the bush shaking rabbit

    18. Re: Living in 1925 kinda sucked by Anonymous Coward · · Score: 1

      Screw you. The invisible hand has always worked way way better at improving people's standard of living than kill/steal from the rich policies ever have.

      That's adorable.

      Why is up with all the nouveau communists these days? It's not going to magically work better this time.

      I don't think you know what a communist is. Seems to me you think it's the bogeyman.

    19. Re:Living in 1925 kinda sucked by GameboyRMH · · Score: 5, Informative

      The rich earned 25% more in 2013 than 2012. Can you imagine if middle-class workers took home 25% more pay one year over another instead?

      --
      "When information is power, privacy is freedom" - Jah-Wren Ryel
    20. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      Want a good corperate example of Greed? Comcast.

      Comcast has so much money they want to buy Time Warner.. WTF? why not put that money into Comcast and upgrade service and infrastructure as well as employee pay levels for the bottom 90% in the company?

      Comcast is paying for TWC with stock - not cash. Comcast likely doesn't hold these shares today; they are likely going to be created thus diluting share holder value but hopefully offset by the added value of TWC going forward. Comcast has $5.3B in cash and $47.9B in debt. The TWC deal is valued at $45.2B not including the costs of integrating the 2 companies, so Comcast is nowhere close to being able to pay cash for TWC short of doubling down on its debt. Having 90x-100x more debt than liquid assets would be a very scary place for me personally; I certainly wouldn't feel wealthy.

    21. Re: Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      The nouveau guys are communists? Stealing the hard earned profits from Nvidia! They do manage to get it to magically work better all the time though.

      Wait, what?

    22. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 2, Insightful

      Well, we have record setting high corprate profits as percentage of GDP. Record high return on capital as percentage of GDP, and record low wages as percentage of GDP. The balance of profit/capital return/wages needs to be realigned. This can be accomplished by pushing wages up, or by adding some draconian hard limit on profits and return on capital investments. You choose.

    23. Re:Living in 1925 kinda sucked by ebh · · Score: 1

      "We need things to cost less"

      Take a look at the prices of consumer goods from 50 years ago. Stuff was *expensive*. Example: A friend of mine showed me an ad from a discount store in 1960 advertising basic two-slice toasters for $8.88. That's a little over $70 in today's dollars. The day he showed me that, you could buy a basic two-slice toaster from Target for $7.99. That's a little under $8.00 in today's dollars.

      The only things that really need to cost less are health care, housing and education, the costs of which have risen faster than the CPI for decades.

    24. Re:Living in 1925 kinda sucked by bigpat · · Score: 1

      Yours is a very important point.

      I would just add, that the same is true if you are only "growing the economy" through population growth. There is a big difference between the "wealth" generated by population growth and the new wealth generated because of new technology. New technology doesn't have a family to feed, shelter, educate. With new techonology it can be, but isn't necessarily, a very clear net gain. But with population growth you get the appearance of economic growth without any new net "wealth" generation. Population growth has repeatedly been used to mask real economic and technology stagnation and given moral cover to those accumulating disproportionate wealth.

      The real measures should be... How many people have savings? How many people have savings to be without employment income for 6 months, 1 year, 2 years? How many people are living paycheck to paycheck? Is the concentration of wealth creating too much risk in the economy? Is the economy able to produce enough high quality food to put on every table? Is the economy able to provide housing, home heating, air conditioning, electricity, medical care, education etc at affordable costs for most people?

    25. Re:Living in 1925 kinda sucked by ThosLives · · Score: 1

      I was trying to avoid being specific about which "things" needed to "cost less" - because any specific list tends to have more problems than a blanket statement like "things"...

      --
      "There are a dozen opinions on a matter until you know the truth. Then there is only one." - CS Lewis (paraprhase)
    26. Re:Living in 1925 kinda sucked by ThosLives · · Score: 1

      I'd rather choose "Make it easier for people to make their own widgets or form companies to make widgets."

      IP laws, some zoning laws, licensing laws, tax laws, accounting laws, and the like all make both making your own stuff or forming companies difficult; limited availability of low-cost machine tools and education makes it difficult to do stuff yourself. These are the things I would reform, not minimum wage or windfall profits tax.

      --
      "There are a dozen opinions on a matter until you know the truth. Then there is only one." - CS Lewis (paraprhase)
    27. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      *shudder*

    28. Re:Living in 1925 kinda sucked by DarkOx · · Score: 1

      Yes but consider the cost of bread to put in that toaster, in 1960 about $0.25 possibly as little as $0.22 depending on what part of the country. Today around $1.98.

      --
      Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
    29. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      No it's not. business owners need to be forced to pay honest wages. Paying people wages that are so low that you can not live even in a squalor home is dishonest (minimum wages below $10 an hour)

      You keep using that word. I do not think it means what you think it means.

    30. Re:Living in 1925 kinda sucked by cheesybagel · · Score: 1

      There are a lot of barriers to a cellphone business. For one you need permission to use the radio waves to operate. Then you need to negotiate peering agreements since most of the people your first customers want to call are not on your network. You also need to get permission to put the towers up.

    31. Re:Living in 1925 kinda sucked by cheesybagel · · Score: 1

      Back then a toaster also lasted a lot longer and it was made so it could be fixed rather than disposed of. The total cost of ownership was probably the same.

    32. Re: Living in 1925 kinda sucked by mrchaotica · · Score: 2

      The invisible hand has always worked way way better at improving people's standard of living than kill/steal from the rich policies ever have.

      Oh yes, I agree: the economic boom in the 50s and 60s clearly had nothing to do with the fact that the highest marginal income tax rate was 90%. Clearly.

      --

      "[Regarding the 'cloud,'] ownership was what made America different than Russia." -- Woz

    33. Re:Living in 1925 kinda sucked by FirephoxRising · · Score: 1

      Not everyone wants to or can start their own business. Real mode average wages have declined sharply since the 1980s. The system would work better if the wage/cost of living curves were more like they were in the 50s and 60s. Ultimately a civilized society is about benefiting society as a whole, not the 1%. We've been in places where 1% have everything, the fucking dark ages! Or you can see it in shithole countries around the world today where the rich live in luxury walled compounds. I don't want to go there! I don't want to live there. People will stand up eventually if the 1% wont share more evenly, they're setting up the system to only benefit themselves.

    34. Re:Living in 1925 kinda sucked by Anonymous Coward · · Score: 0

      It's not a zero sum game it's a negative sum game. The rich gained less than the poor lost which makes it even more disgusting.

  19. Re:Need for long-term view of society by bloodhawk · · Score: 0, Troll

    It is NOT a problem in the current model at all. It is a problem only for those that are not willing to change or evolve their skills. Skill sets required change, some new ones will be required and many old ones will become less relevant. In a recent training course I was at there were a whole heap of infrastructure people trying to improve there development skillset (surprised me how many actually), these are people that can see the freight train coming and are altering there skills appropriately. Many more will simply find themselves out of work and wonder "what the fuck just happened?" and this is just in the IT space, every other work environment has the same situation. Evolve or Die!

  20. Between them, they're right by overshoot · · Score: 3, Interesting

    Greenspan is right that taking the lid off of immigration will drive the top of the wage scale down, greatly reducing wage inequality.

    Gates is right that there's one "job" that won't be automated: ownership.

    I confess that I am assuming that Greenspan (who was never a dummy) is talking about wage, rather than income inequality. Otherwise I'm not sure how he expects a rise in immigration to do anything but accelerate the shift of income from wages to rents.

    --
    Lacking <sarcasm> tags, /. substitutes moderation as "Troll."
    1. Re:Between them, they're right by matthewv789 · · Score: 1

      No, he's not right. The income inequality problem is not between engineers and common workers, it's between CEOs and common workers.

    2. Re:Between them, they're right by matthewv789 · · Score: 1

      (Greenaspan that is, Gates is probably right though.)

    3. Re:Between them, they're right by bhiestand · · Score: 1

      No, he's not right. The income inequality problem is not between engineers and common workers, it's between CEOs and common workers.

      Not really. Instead, look at the gap between shareholders and common workers. The gap between CEOs and workers has been widening, but it pales in comparison.

      The overwhelming majority of CEOs still have to work to maintain their lifestyles (ignoring the what, top 1000 CEOs in the world?). Among those who are independently wealthy, few would continue to passively increase their wealth. At this point, a near majority of the wealth is owned by those whose wealth generates enough passive income to be ensure ever-increasing wealth, as long as they hire a competent team to manage it.

      CEOs may be the top 1%, but the real dangerous gap is with the top .0001%.

      --
      SWM seeks new sig for a brief fling
  21. In related news... by RedMage · · Score: 1

    In related news, Mr. Greenspan has no clue about inequity in stratified markets. If you push on the top, you just compress the layers into smaller layers, with the bottom filling until it can absorb no more. Then you get slums, riots, and chaos. The only way the market works is with a strong middle class with buying potential. Without that there is no market, and hence no profits or growth. Once that contract is broken, it's not a long way to the bottom for most.

    --
    }#q NO CARRIER
    1. Re:In related news... by Dr+Max · · Score: 1

      I disagree. In that scenario there can still be a market, its just a market for very expensive items, for only the people with money (robot owners). You are right about the slums, riots, and chaos, but that could also be solved with robots (terminator style).

      --
      Rocket Surgeon.
    2. Re:In related news... by matthewv789 · · Score: 1

      Pushing down engineering wages is certainly not pushing down the TOP, it's just pushing down one of the lower layers even lower.

    3. Re:In related news... by sjames · · Score: 1

      It's all part of a long con to convince the middle class that their interests align with the rich so they'll vote against their own best interest.

    4. Re:In related news... by DarkOx · · Score: 1

      The thing is the middle classes interests do align with the rich. The problem is the middle class is much much much smaller than most people think, and whole lot of people who call themselves middle class are truly poor.

      Historically the middle class were skilled tradesmen or merchants with the capital they needed to perform their craft. Though they would usually have been landless. The big thing is they were free to move both legally and economically speaking.

      So here is the thing if you have mortgage and car loan you are paying and you can't afford to leave you job, for 6 months to a year or longer, you are not a member of the middle class.

      --
      Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
    5. Re:In related news... by sjames · · Score: 1

      Very true, mot of what America calls middle class are actually working class. That is likely more of the long con.

  22. Just how out of touch is Greenspan? by Guppy06 · · Score: 5, Insightful

    "If we're not going to educate our kids, bring in other people who want to become Americans," said Greenspan, in arguing for an increase of H-1B workers.

    H-1B is not a path to citizenship, apparently by design. Green card holders can say "Screw you, I quit" without deportation, which is not what companies want when they reach for H-1B's.

    In the context of income inequality, Greenspan put the H-1B program in his light: If the program were expanded, income wouldn't necessarily go down much, "but I bet you they would go down enough to really make an impact, because income inequality is a relative concept.

    H-1B's are competing for the bottom. Executives don't bring in indentured servants to be their own replacement, nor are meaningful numbers being placed into "rock star" slots (rock stars can command perks like actual green card status anyway). H-1B's only drive down the wages of the bottom, not the top, exacerbating wealth disparity.

    1. Re:Just how out of touch is Greenspan? by jafac · · Score: 5, Insightful

      who knew, Greenspan was a proponent of what is essentially "soft-slavery".

      --

      These are my friends, See how they glisten. See this one shine, how he smiles in the light.
  23. How? by rsilvergun · · Score: 4, Interesting

    I'm pretty local. I'm stuck here because a) I only know one language and it's a bit late to learn (what with being an adult of only sightly above average intelligence) and b) not having tons of money.

    I keep getting told that if I don't like being poor I should just stop being poor. Gee, that'd be nice, but I don't see anyone lining up to give me capital.... I've got ideas and I'm willing to work (I am in fact :P, taking a break from a large code project to troll /. :) ). I made a lot of mistakes in life, but I also had a lot of things just fall apart around me through no fault of my own. I watched as 90 % of the IT industry was shipped overseas and nobody noticed or cared. Just like with the car industry. Now I'm watching what's left get automated away

    I haven't once heard anything constructive come out of the "Don't be Poor" crowd. If you have real solutions I'd like to hear them. What are we going to do in 20 years when robots drive cars, make food, deliver packages and pick our fruit? What are we going to do with all these people we just don't _need_? If you're OK with letting them starve to death on Resevations (like America did with the Natives) and brutally oppressing them when they get out of line then fine, say it and be done. But stop pretending you have an answer that doesn't end with the entire planet looking like North Korea.

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:How? by Anonymous Coward · · Score: 0

      North Korea doesn't have much in the way of automation. Automation happens as a result of high wages making machines competitve. When all your workers are being forced to work at the threat of being starved to death or sent for "re-education", the proposition of adopting automation doesn't seem so attractive.

      The only place automation happens without price pressure is where the thing being made can't be made by hand, either it's too small (or precise) like semiconductors and machine gun parts, or it's too big like heavy machines and ships.

    2. Re:How? by khallow · · Score: 1

      I keep getting told that if I don't like being poor I should just stop being poor. Gee, that'd be nice, but I don't see anyone lining up to give me capital....

      Your employer is giving you capital for starters. Maybe you ought to look at what you're doing with that.

      What are we going to do in 20 years when robots drive cars, make food, deliver packages and pick our fruit?

      Other stuff obviously. Jobs change and maybe you should be changing with that. We're not all chipping flint and hunting rabbits any more. Somehow we adapted to greater changes than the ones that have you so concerned.

    3. Re:How? by fyngyrz · · Score: 5, Interesting

      If you have real solutions I'd like to hear them.

      The keys are twofold: First, don't borrow money. Ever. Not from the bank, not with a credit card, not for a house and not for a vehicle. Buy the very least expensive thing that will do the job you *require*, and no more. If you find opportunity to do so, loan money out at interest and see to it you get paid. If you can, continue to live with your parents, otherwise, share expenses as much as possible, and be a *great* person to room with, temperment-wise. Second, disengage from racing with the Joneses. Learn to cook and be efficient in your use of materials and ingredients. Learn about reuse. Garage sales, etc. You don't need to drink, to party, to have cable or satellite or streaming or CDs or DVDs or Blurays, to smoke, new clothes, jewelry, to go out to eat, to have books (libraries are still around, and there's the net), to have a spouse or to have children. Exercise. Take those two ideas and exist in their embrace for a decade or two, and you *wlll* have money unless your health significantly fails. In that case, at least in this society, you're screwed.

      Then invest your money in the performance of the upper tier, and it will grow. Don't spend your capital. That's it, in a nutshell. Either you do it that way, or you find a job- or trustfund-based way to accrue money faster than you can spend it -- but most people have no access to that kind of income, and the lottery, well, participation in the lottery is simply an indicator you can't do math.

      --
      I've fallen off your lawn, and I can't get up.
    4. Re:How? by epyT-R · · Score: 2

      Adaptation takes time and money.. too much money, these days, with college fast becoming a thing for rich people. Asking someone to re-adapt to a new field every 5 years is not sustainable.

    5. Re:How? by sjames · · Score: 2

      For example, we might try hand waving until we can fly with the pigs...

    6. Re:How? by Karmashock · · Score: 1

      Learn to adapt or its hard to feel very sorry for you. Some places are played out. Some places have nothing to offer you.

      Leave those places or accept the suck.

      That is all you can control. You can't fix the f'ed up government. You can't fix the f'ed up corporations. You can't fix the f'ed up culture. What you can do is decide what part of the planet you're on.

      Choose.

      --
      I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    7. Re:How? by Anonymous Coward · · Score: 0

      Yes, learn to adapt. Learn to live without food. Learn to live without water. Learn to live without shelter. Learn to live without heath care.

      With out of control globalization the above is all there is in store for 99.5% of the global population.

    8. Re:How? by clam666 · · Score: 3, Informative

      No one will read this, but that's ok.

      Ironically, either people will ignore you, or offer some stupid counterpoint about how you can't do that.

      I got out of college (where I didn't have loans, but went part time with a night job fo many years) and quickly made an exciting job at a call center for $8 an hour.

      I live(d) within my means, and after taking pay cuts even more to try and get ahead in a career. I had roomates, split rent, car pooled, etc. I had and have nothing but shit cars my life. I shop and Walmart and mostly Goodwill or army surplus stores for clothes.

      I didn't get a mortgage for a home. I got two full time jobs, one W2 and one 1099, and balanced between them. Within two years I bought a small home for cash. I then bought another small home, because I could rent out the existing one, and I live cheap. Now I have a free home, and one providing rental income, so I'm profiting on it as an additional income stream.

      Now work doesn't matter. It was a lot of stress having two jobs, and I had to kiss a lot of ass to balance it, but now I can live on one. I take extra jobs now and then (above my full time one) to gravy a bit more on my assets. I have few bills, so I'm maxing out my savings. Since the beginning I maxed anything I could save and lived on the smallest amount I could. i never went the management track so I wasn't locked into one company.

      Now I have hundreds of thousands in the bank and tax free investments and I lost plenty in the real-estate bust before that. However I have no debt, I have assets. My held liabiilities (real estate) is offest by rental income.

      I've helped some coworkers in the philosophy of getting out of debt, and now, like a crazy cult, we meet at lunch and they're excited about how soon they'll pay off a second mortgage, or a car, and things like that. They actually LIKE the idea of doing math and setting budgets, and seeing how a $20 here and there in expenses can cause large changes to their debt levels.

      As a counter point, people used to tell me that I'm living life not to its potential, not having fun, I might die any moment, or I'll retire early and not be healthy enough. I am constantly abused by friends telling me to spend money (above the triple minimum wage I've set myself at) because I'm...what...not keeping up with the Jones' or something?

      I remember being mocked, because in 2007 I was talking to my boss about buying a home and I was looking at some double wides on an acre, or a cheap 2/1 outside of town, and being told I was "stupid" because I should get a mortgage for as much house as I could max out on my credit. I guess I disappointed him.

      --
      I'm a satanic clam.
    9. Re:How? by sonamchauhan · · Score: 3, Informative

      All good, except....

      > don't borrow money... not for a house
      That depends - a home is a *secured* loan. You can always 'give it back' and rent. A *humble* home is better than renting for decades.

      > You don't need to drink, to ..., to have a spouse or to have children.
      No. (Almost all) people *need* a spouse. For love, for the work of life. On the purely economic side, its efficient to have 2 (or 1.5) incomes to pay one mortgage, two people to share household goods, groceries, cooking, cleaning...

      > ... you *wlll* have money unless your health significantly fails.
      Your health will (almost certainly) fail if you strike it out without a spouse.

    10. Re:How? by Anonymous Coward · · Score: 0

      First, don't borrow money. Ever. ... [C]ontinue to live with your parents ... Don't need to have a spouse or to have children

      I do not call these solutions "real". They should be labeled "when all else fails". Please suggest real alternatives.

    11. Re:How? by khallow · · Score: 1

      I guess then you'll have to find a way to adapt. Employers will have to as well.

    12. Re:How? by Anonymous Coward · · Score: 0

      "Your employer is giving you capital for starters. Maybe you ought to look at what you're doing with that."

      Uhh, no. That is idiotic. Have you ever tried starting and running a business from scratch? For real, not some imaginary part time baloney business? On limited capital?

      1) Employers tend (or at least want) to give just enough salary for expenses. When there is left over cash, it may be enough to fund retirement but certainly not enough to call "capital" for business purposes. And, the "leftover" cash after expenses is the exact reason the corporations are going H1B (plus our expense are obviously too high). With that downward wage pressure, where's that capital?

      2) Many employers in the white-collar class force recruits to sign statements indicating that they will not moonlight (I don't understand how this could be legally binding). This is a statement beyond simply a non-compete. That is, no side-business without permission from the employer first. So, forget the after work, part time baloney business.

      3) Running a business, especially in modern times is exceedingly expensive (relatively). Can you do it on a very limited milk money budget. Sure, but if you do not have a large pool of cash (or some other benefactor), the growth and opportunities for your company will be severely limited. During this time don't expect a good and consistent salary for yourself.

    13. Re:How? by Anonymous Coward · · Score: 0

      Self-help to systematic problem of having zero marginal product workers. Don't get me wrong, its nice to give advice but this isn't a real solution.

      A lot of people will become useless like horses, and the way the market "solves" this problem is by killing them off (by not giving the resources). The society gets more productive though.

      People should listen more to reason, and hold that ideological knee-jerk reaction. This is coming from someone who was a libertarian teenager. Our current market economy is more than capable of supplying everyone with food, housing, clothing, basic health care, some necessities, entertainment, safety net and whatever. And I mean *more* than enough. It isn't obvious that all this extra stuff gives our lives any more meaning or happiness.

      A lot of people like to moralize people living of welfare or whatever. But this is falling to the prey of simple narrative. The real reason we are rich is because we have highly productive market machine made over century made by our fathers and grandfathers. It's like an island, where there are some guys who run an Incredible Machine that makes things, which 100 other people could live off. Of course those guys like to moralize the people who get to live off the machine, because they just happened to have the skills, genes or whatever to run the machines. The truth is those guys would be just as happy even if they had just a little less stuff, and those 100 didn't need to starve.

    14. Re:How? by Anonymous Coward · · Score: 0

      What are we going to do in 20 years when robots drive cars, make food, deliver packages and pick our fruit?

      The other 99.999% of currently existing jobs that aren't going to get automated away? There is no robot that can do a simple task like clean a bathroom or paint a wall. And yet you think that most human workers are going to be replaced? Utter nonsense. I tire of reading it every month when this crap gets spewed on /. again. We are technologists. We are more familiar with the current state of tech than most of the population. Why are we spewing this nonsense?

      And the answer is always socialism. Yes, let's move to the big government political model that murdered hundreds of millions of people in the 20th century because we might have a self driving car in ten years. And why do we need this model so badly? Because "corporations are evil." Corporations haven't hurt a tiny fraction of the number of people that governments have hurt. There is no competition. Government power is many times worse than corporate power. But please, let's continue the 2 minutes hate against capitalism, the economic model responsible for the computer you type on, it's network connection, and the server storing the post. If people don't get 2 IQ points brighter real soon, we are all going to get what we deserve.

    15. Re:How? by Anonymous Coward · · Score: 0

      I'm pretty local. I'm stuck here because a) I only know one language and it's a bit late to learn (what with being an adult of only sightly above average intelligence) and b) not having tons of money.

      From the rest of your post I assume you are a programmer. The language is not a problem, most of your colleges anywhere in the world speak English just enough. For communicating with people when you are not at work ... well, there is hardly a country without tourists and locals will probably manage to catch your meaning. Also, usually the cost of subsistence is lower in non-English speaking world, so the money you do have would probably give you reasonable standard of living.

    16. Re:How? by Karmashock · · Score: 1

      Since you're apparently utterly dependent on someone giving you everything, you should be happy to hear you'll soon be on welfare.

      Congratulations.

      --
      I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
    17. Re:How? by pseudorand · · Score: 2

      > don't borrow money. Ever.

      I know that seems like common sense, but the very rich have engineered it so that it's stupid NOT to borrow money. This is what makes us all slaves. You HAVE to borrow money because if you have decent credit, a mortgage is as cheap or cheaper than renting. Saving won't work due to inflation.

      But that's why the financial system is rigged. The middle class has to borrow from the rich and pay them, making them richer. We also have to put our money at risk in the stock market because savings will LOOSE value to inflation. And because the middle class has our assets there, the government has to bail out the market when it collapses like it did in 2007/2008.

      We need:
      1) The fed to target 0% inflation
      2) Tax policy to encourage owning property and paying down mortgages more quickly, rather than paying the rich interest.

      Or maybe just a good old fashion french-style revolution with guillotines and all. Actually, I think we're getting pretty close to that one, unfortunately.

    18. Re:How? by Big+Nemo+'60 · · Score: 1

      1. I totally agree with you. I am actually putting most of those guidelines into practice, and they work.

      2. You are obviously aware that, if _everybody_ eventually shared your (our) point of view, our current economic system (that is driven by consumerism) would collapse in a rather short time. (Eventually it would be replaced by something different, the likes of which I cannot imagine yet; also, the transition phase should be... interesting - like the "interesting times" from the Chinese proverb.)

      3. [quote]"You don't need [...] to have a spouse or to have children."[/quote] Same here... However, if _everybody_ eventually shared your (our) point of view, the whole world is going to look a lot like Japan (or China 25 years from now). Somewhere along the way, we forgot that, to survive as a species, we need to raise the next generation, and to do it so that they are able to adapt to changes. Geological sediments are full of those who failed to do that.

      4. Unwanted consequences from items (2) and (3) are probably coming anyway, so maybe we should just not care...

      --
      In the long run we are all dead. - John Maynard Keynes (1883 - 1946)
    19. Re:How? by fyngyrz · · Score: 1

      You are obviously aware that, if _everybody_ eventually shared your (our) point of view, our current economic system (that is driven by consumerism) would collapse in a rather short time

      Absolutely. However, there's no risk of that. Just look at the comments above you. People will rarely take the more difficult path, even if it leads to success. On top of that, some just don't understand debt. Again, look at the above messages, talking about how a mortgage is a *good* idea. It'd be hilarious, if it wasn't so sad.

      However, if _everybody_ eventually shared your (our) point of view, the whole world is going to look a lot like Japan (or China 25 years from now).

      Again, yes -- but again, there's no risk of that. Most people will follow the well trodden path, squeeze out a few crotch-blossoms, generate enormous debt, lose the house in the divorce, and sit around wondering WTF just happened... and we'll have our next generation. :)

      --
      I've fallen off your lawn, and I can't get up.
    20. Re:How? by khallow · · Score: 1

      As rebuttals:

      1) Employers don't want to pay you anything, but they do. Rather than spending your salary on "expenses", save your money either by investing or by putting it into a business. It's a novel concept. Now, I know there's some people out there who don't think they can pare their expenses. But they're usually wrong.

      2) I've never worked at such a place. I'm sure they exist, but so what? Even if you work at such a place, you can still save for a future business after you leave.

      3) You basically say that yes, you can run a business on a "very limited milk money" budget.

    21. Re:How? by Big+Nemo+'60 · · Score: 1

      IIRC old pal Albert Einstein once said that the most abundant elements in the known universe were Hydrogen and Human Stupidity (and he was _mostly_ sure about Hydrogen!)...

      What I find disturbing is, having to live in a society that must rely on collective stupidity to perpetuate itself - maybe I am a closet masochist, but some days I would rather deal with the consequences of a sudden resurgence of common sense! (And it is not impossible, just unlikely - see clam666's post in this thread about how this kind of attitude can spread.)

      Thanks for the feedback ;-)

      --
      In the long run we are all dead. - John Maynard Keynes (1883 - 1946)
    22. Re:How? by fyngyrz · · Score: 1

      That depends - a home is a *secured* loan. You can always 'give it back' and rent.

      No. It's NEVER a "better" idea to get a mortgage. The amount of extra money you pay in interest is HUGE. Save the money yourself (which will take less time than it would take to pay off any mortgage), then buy the home outright. Now rent THAT out; you'll make money so fast you won't even know what hit you.

      A *humble* home is better than renting for decades.

      Oh, absolutely. My first home was $5000. It was a used trailer; two full, if tight, baths, three bedrooms, living room, kitchen. I paid cash. But getting a loan for that $5000 probably would have cost me a lot more. And *that* is for a relatively short term loan. So I had it paid for earlier, I owned it, I saved plenty, and I used THAT money to get further ahead. Today (I'm almost 60), I'm so far ahead of the average homeowner I'm about around the curve of the universe, lol. A usable interior of about ~6000 sq feet, plus, heck, my *deck* is bigger than most people's homes. My home theater is over 200", and I own *lots* of stuff. I never had a large income by programmer / engineer standards. And yes, I paid cash for it, too, and I used that cash as leverage to drop the purchase price significantly.

      No. (Almost all) people *need* a spouse. For love, for the work of life.

      Absolute nonsense. A girl/boy friend gives you the love, and you can share expenses, rent, etc. if you care to pool and/or cohabit, instead of "going spouse" and paying for weddings and all that pop culture bullshit. And that's if you require same. I totally reject the idea that most people need this, or even that most people have it. Over half the cohabiting pairs in the last major survey were not married. And a whole lot of the married ones are bloody unhappy because they are trapped in one or more ways.

      On the purely economic side, its efficient to have 2 (or 1.5) incomes to pay one mortgage, two people to share household goods, groceries, cooking, cleaning...

      Sure. But it doesn't mean you need a spouse. Friend is good enough. Benefits or not. Even an "associate" is enough to share expenses, plus they're easier to swap out if need be. And it's even *more* efficient to save for a house than to pay the interest on a mortgage. You'll own it sooner, and you'll spend a lot less. Start small (real small, as small as you can), and work up.

      Your health will (almost certainly) fail if you strike it out without a spouse.

      That's purest pop-culture nonsense. If you can't live with yourself and like it, you're just immature and clueless. Furthermore, you are a lot less attractive to others: no one really wants someone who arrives all full of lonely angst, even if they'll settle for it. Not even as a friend. You end up with a grasping and/or jealous partner, which is disgusting and harmful. It's also pitiful and painful and an imposition on everyone else. In addition, you make better choices when you aren't desperate: the best partner will come to you as a healthy, selective, happy person, and you'll reject also-rans comfortably if you're not desperate to solve the "I'm so lonely" (said with a whine) "problem." Learn to like yourself and be comfortable inside your own skin. You'll be a much better person for it.

      --
      I've fallen off your lawn, and I can't get up.
    23. Re:How? by fyngyrz · · Score: 1

      Real alternatives? AC, I lived this, never had a large income and currently live in a huge house, have a lovely partner, more cash in savings than most people's retirement accounts, and about every toy you can imagine, plus a martial arts studio, a photography studio, and a music studio. Several cars, and I'm happy as the proverbial porker in poop. I had some severe setbacks -- legal, medical -- and I blew right past them because I had money.

      I started small (trailer home), worked up constantly, rented out the homes I purchased except for the one I was currently living in, and I did it all on a lowball programmer / engineer salary (no college degree... keeps the earnings down a bit, generally.) Had plenty of girlfriends, never was lonely, and finally got real serious with a wonderful lady who's been my partner for almost 20 years now.

      Now, if you can't see it, or manage it, that's your own issue: It doesn't make it unreal or impractical. The fact is, this works, and it will work for anyone who has a nominal income so they can get started early for a few thousand bucks -- and that's if your parents won't contribute to your launch, which many will if you're not trying to buy a 100k home right out the door. A cheap, used trailer is a perfect start. You can own it, you don't pay interest, from there, set yourself up to get another slightly less cheap place, do that, move there, then rent out the last one, and from there you win, win, win. Fast. Start in your 20's, the end game is pretty much a given: any rational home you want, lots of money, security, zero debt, credit rating *irrelevant* because you never had to borrow anything.

      --
      I've fallen off your lawn, and I can't get up.
    24. Re:How? by fyngyrz · · Score: 1

      I know that seems like common sense, but the very rich have engineered it so that it's stupid NOT to borrow money. This is what makes us all slaves. You HAVE to borrow money because if you have decent credit, a mortgage is as cheap or cheaper than renting. Saving won't work due to inflation.

      Every single idea there is wrong. You don't have to rent. So "cheaper than renting" is just misleading. Start small: the cheapest place you can live. You can find livable housing you can own, and later rent, for well under $10,000. Save, buy, save and buy again, rent one, and you're winning huge. That ONE idea obviates your entire train of thought. If you think you "must" live somewhere, you are limiting yourself. If you think you "must" have a certain type of home, you are limiting yourself. If you think other people "must" be impressed with your home, you are limiting yourself. You want all those limits, fine, but the bloody holes in your feet came from your own shots.

      It *always* costs more to borrow than to save and buy for cash, even if you have zero interest on your savings. That's because you effectively gain the interest you would have paid on the mortgage. Proceed stepwise, and you're moving up fast. Once you have enough to (conservatively) invest in upper tier enterprise, the whole picture changes. The rest of your post is just whining.

      The only caveat here is it takes time. You can borrow and live in a house you don't really own, drive a car you don't really own, and pretend you're doing ok, while giving up more than those things actually cost and losing your ability to move up without external help, or you can exit the merry go round and do it yourself. Totally your call.

      --
      I've fallen off your lawn, and I can't get up.
    25. Re:How? by pseudorand · · Score: 1

      Where the heck do you live that you can buy even a studio apartment for $10k? And even if you can, you'll spend $20k/year in gas getting to your job (not to mention the time you waste in the car). Okay, maybe if you get mad cash working an oil field in the boonies, but for most of us who have to live in a city to be reasonably close to work...

      I agree with you that people should consume less, not demand huge, new houses, drive their cars until they can't possibly be fixed, and I do all that. My car is a 1998 I live 45 minutes from work because houses cost twice as much near my office. And I have a family, so I can't just rent a room (which is how I lived cheaply when I was single). But for the $800 of our mortgage payment that goes to interest, taxes and insurance, we can only rent a small apartment or condo, so borrowing and buying truly makes more sense.

      What I'm really complaining about is the tax code and the fed's monetary policy. If you're paying 3.5% (i.e. earning -3.5%) on a mortgage and the stock market earns, on average, 8%, every extra dollar put in your 401k instead of paying down your mortgage is earning you 4.5%/year. But now that money is at risk for those years (and we have one once or twice a decade) where the stock market actually drops.

      Tax and monetary policy should encourage people to save, not gamble. It /should/ be smart to pay off your mortgages and thereby distribute wealth rather than consolidate it at the top. Tax the capital gains the same as income. End the mortgage interest deduction but let us withdrawal from retirement accounts without penalty or taxes to pay off the mortgage on a single, primary residence (with some reasonable cap, say $500k). When Americans start actually owning their homes instead of the mortgage company owning it, we'll have less need for social security and medicare and be less resistant to cuts in those programs. And we'll save cash too, now that we've paid off our mortgages early, making us dependent on ourselves, not handouts from the Uncle Sam.

      And the feds should NEVER bail out the markets. If we'd all owned our homes instead of having so much of our asses in the markets, we could have just let the big firms fail -- only a small percentage of very wealthy Americans would have been hurt much by that, and all of them could have afforded it.

      And the fed should target a 0%, not 2% inflation rate. Would this hurt stock market growth? Of course, but that's fine. This free ride of a market averaging 8%/year just makes the rich (who have a larger % of their assets in the market) richer. Let it fail. Let it decline. But let the middle class get out first.

    26. Re:How? by fyngyrz · · Score: 1

      Where the heck do you live that you can buy even a studio apartment for $10k?

      I live in Montana. There are used trailer homes available here starting at 5k and up. They're perfectly serviceable. This is not the only area of the country where this is possible.

      And even if you can, you'll spend $20k/year in gas getting to your job (not to mention the time you waste in the car).

      Well, that depends on your job, doesn't it? And isn't that under your control? And can you work from home? I could, mostly, so I leveraged that.

      Okay, maybe if you get mad cash working an oil field in the boonies, but for most of us who have to live in a city to be reasonably close to work...

      Nope. You personally, assuming you are of normal health and have the usual number of functional limbs, could come out to the ND Bakken oil fields right now and have a job within 24 hours. One paying a reasonable amount of money. You do not "have" to be where you are, wherever that is. You choose to be where you are, and that choice comes with consequences. Make a different choice, alter your consequences -- radically.

      And I have a family

      Well, that's certainly an issue. My policy was financial stability first, then build a family -- so my kids (3 boys) all had college 100% paid for (All STEM grads now), homes given to them, some useful cash startup gifts, healthcare, choices aplenty. If you go for family first, doors close at an astonishing rate, because your real financial load increases enormously, at the same time as your free time erodes and your job performance and flexibility is impacted by familial obligations. Order matters, and choices have consequences. If you can't earn money to invest, you cannot climb the ladder. Can't help you with that if you're 100% tapped out. My advice here is to glory in your family -- you made a (mostly) irrevocable time/value exchange, might as well enjoy it. But you can probably still do this. The kickoff will be slower, that's all. The question is, how long will it take to save ~10k if you cut out the frills?

      What I'm really complaining about is the tax code and the fed's monetary policy.

      Ok, and I sympathize, but you have to realize: you're focused here on something you cannot change. That makes it a complete waste of your time. If you want to improve your lot (and your family's), you must focus only on things you can change, and put all your spare effort into those things.

      When Americans start actually owning their homes

      I own my homes outright. Bought them cash. All of them. No mortgages. I make a boatload of money with them, except for the one we live in. And I gave three homes away to my kids. Most young people in the US can reach this position, if they make the required choices in the right order. I don't care where you start: ghetto, rich man's kid, whatever: it only takes a few thousand bucks to jumpstart the process, and you can save that up working at McDonald's if you simply deny yourself anything more than what you need to survive, and especially quickly if you live at home when you kick this off.

      And the feds should NEVER bail out the markets... And the fed should target a 0%, not 2% inflation rate.

      Again, focusing on this is a complete waste of your time and energy. You can't fix it. Focus on things you can change. Put your time and energy there.

      --
      I've fallen off your lawn, and I can't get up.
  24. Re:Need for long-term view of society by Dr+Max · · Score: 1

    Hail the rise of robo-communism, as capitalism is a dead end. If only we wern't told so much how evil communism is. Interestingly, true communism (never actully tried) requires a period of prosperus capitalism first.

    --
    Rocket Surgeon.
  25. Re:Need for long-term view of society by Anonymous Coward · · Score: 1, Funny

    And cunts like you can just be murdered and robbed by those who get fucked over and can't get a new start. How's that grab you Mr. Darwin? You can't talk if I shoot your larynx out the back of your fucking neck cocksucker.

  26. I have been on an H1-B for the last 9 years by Anonymous Coward · · Score: 5, Informative

    And that Greenspan and Gates are telling you about H1-B's is only half the story.

    The other half of the story is that there aren't enough Green cards to give out for the H1-B's that are in line for them. So you end up with H1-B workers in essentially indentured servitude to their employer with no bargaining power driving down wages for everyone else.

    Increasing Green cards for existing H1-B workers currently in the US will help the US economy a lot more than creating more indentured servitude.

    A little background: The number of Green cards is set by Congress. In 1999 congress increased the number of H1-B's to 190,000 but left the number of employment based Green cards at 135,000. The rule of thumb is that you need 2.2 Green cards for every H1-B issued to satisfy demand (because H1-B workers normally come with spouses and kids). To satisfy demand, they should have increased Green cards to 400,000 when they increased the H1-B numbers to 190,000 - but they didn't.

    This created a huge backlog of people waiting for their Green cards - including me. I am 31 years old, I did some math, I will be 62 by the time I get mine at the current rate.

    The corporations LOVE the idea of creating more H1-B's but you don't hear a peep about increasing the number of Green Cards. They claim that increasing H1-B's will increase innovation and so on - but without a commensurate increase in Green cards, that is complete nonsense. Someone who has been stuck at the same job for decades can hardly innovate.

    FYI: Congress is trying to increase the number of H1-B's without increasing the number again (to the magic 195,000 again) http://beta.congress.gov/bill/113th-congress/house-bill/2131 . Call your Congressman/Senator and tell him/her to vote against the bill unless it includes a commensurate increase in H1-B's. The Bill is HR-2131. http://beta.congress.gov/bill/113th-congress/house-bill/2131

    1. Re:I have been on an H1-B for the last 9 years by Anonymous Coward · · Score: 0

      Your math is mistaken. H1-B are limited, but have no origin quota. Green cards have citizen quotas, so that not all Indians or Chinese get one. (Otherwise they would flood the market, and very likely other people from other parts wouldn't stand a chance probabilistically speaking).

    2. Re:I have been on an H1-B for the last 9 years by Anonymous Coward · · Score: 1

      Did you know if you are unemployed for a day, you technically lost your H1B. If your employer fires you, will be able to get a job tomorrow? A job that requires hi-tech skills, and qualifies for H1B that too. (Note that the 1 day is not strictly enforced, the unspoken guideline is like 10 days). You cannot quit you job at will, your employer can make your life miserable by firing you, how this not indentured servitude?

  27. Absolute top of 1925... by Guppy06 · · Score: 4, Funny

    People who are absolutely at the top of the scale in 1925, for instance, would be getting food stamps today, said Greenspan.

    Has Greenspan blown the dust off his Rolodex lately? I can't think of anybody with the last name "Rockefeller" or "Vanderbilt" in 2014 that's hurting for cash.

    1. Re:Absolute top of 1925... by Anonymous Coward · · Score: 0

      I think he needs to go to the bathroom badly, because he is literally full of shit!

    2. Re:Absolute top of 1925... by Anonymous Coward · · Score: 0

      People who are absolutely at the top of the scale in 1925, for instance, would be getting food stamps today, said Greenspan.

      Has Greenspan blown the dust off his Rolodex lately? I can't think of anybody with the last name "Rockefeller" or "Vanderbilt" in 2014 that's hurting for cash.

      Poor Mr. Vanderbilt had to lobby Congress for a tax break back in 1995.
      http://news.google.com/newspapers?nid=1454&dat=19950107&id=MsYsAAAAIBAJ&sjid=ZRUEAAAAIBAJ&pg=4209,2386766

      Thankfully he was still able to balance the budget well enough to built a $31m hotel.
      http://www.forbes.com/forbes/1998/1012/6208078a.html

  28. I have been on an H1-B for the last 9 years - Cor by Anonymous Coward · · Score: 1

    I screwed up the last paragraph, it should have been:

    FYI: Congress is trying to increase the number of H1-B's without increasing the number of Green cards again (to the magic 195,000 again) . Call your Congressman/Senator and tell him/her to vote against the bill unless it includes a commensurate increase in Green Cards. The Bill is HR-2131. http://beta.congress.gov/bill/113th-congress/house-bill/2131

  29. Idiot cultist by Anonymous Coward · · Score: 0

    We're idiot cultist who come up with jobs, sacrificing our lives to the god of capitalism, self flagellation and all. If machines do our jobs, we can just sit back and enjoy production of knowledge, culture and other things enjoyable, each to their own, it's ok warriors, time to put down your bootstraps.

  30. Re:Need for long-term view of society by Dr+Max · · Score: 1

    I fear you maybe a little short sighted. Very smart AI is just around the corner (and i'm not talking ibm watson, i'm talking hardwired neuromorphic chips based on our own brains). There won't be much a human can do, that it wont be able to do better. I'm on the optimistic side, and think we will have human level ai in 10 years, but even if you are not, 25-50 years is easily more than enough time to complete it (think how far computers have come in 30 years). If the computer is as smart as a human it won't matter how many training courses you go to, the computer can complete them almost instantaneously, then work 24/7, possibly even at a faster rate.

    --
    Rocket Surgeon.
  31. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    ...or... ...you could just avoid the employers that bloodhawk keeps getting duped into working for!

    Keep evolving, bloodhawk... Keep evolving.

  32. Re:Need for long-term view of society by SeeManRun · · Score: 2

    Not everyone can evolve like you say. Some jobs will be gone and people will be left behind. What we do about those people is what needs to change. Right now they are left to fend for themselves because we accuse them of not seeing the writing on the wall so it is their own fault. But the people at the top are very smart, and they are actively working against the people at the bottom to increase their profits. If the people at Ford could replace their skilled manufacturers with robots that cost $250 grand a piece, they would hop to it in an instant. That could be a virtual overnight change in manufacturing in the entire country if robots could be made dexterous enough to replace humans. We are probably only a few years away from doing that. Those people cannot all be left to fend for themselves, and upgrade their skills to do something else. It is beyond scale that is possible.

  33. Reminds Me of David Brooks by careysub · · Score: 5, Funny

    In the New York Times Conservative columnist was opining last June that what the what the lower economic brackets really need is to develop a "rich inner life" and derive joy and satisfaction from whatever they have, rather than "focus on external wealth". if they are unhappy with their lot they have only themselves to blame.

    That's right folks, the solution to extreme inequality is for the poor to learn to make themselves happy! Just as the solution for inequality for Greenspan is to compress the Middle Class downward, make those who aren't struggling a lot, struggle a lot more.

    No, no don't look at the rich and super-rich! You're just making yourself unhappy - shame on you! Trust us you don't want, and shouldn't have a bigger share of the rewards of your labor, really those that have the most really need more of what you have

    In other news, the New York Times had a front-page article comparing the health and longevity of two groups of Americans living close to each other - one wealthy and one poor. Guess what? The poor are in poor health and die sooner.

    That's right. Inequality is killing people. Telling them to be happy ain't going to make them live longer, and making the upper middle class poorer won't do it either.

    It is quite apparent the plutocrats have an army of sycophants ready bury us in platitudes to divert any attention from how the entire nation is rigged to their advantage.

    --
    Starships were meant to fly, Hands up and touch the sky - Nicky Minaj
    1. Re:Reminds Me of David Brooks by Anonymous Coward · · Score: 0

      Please don't pretend that David Brooks is a conservative. We don't want him. He doesn't speak for us. That's why he writes for the NYT. They want to pretend to have a real conservative columnist, when in actuality, they don't.

  34. Mr. Gates: Unless and until... by jpellino · · Score: 0

    ...humans spontaneously turn blue and go blank requiring they be poked in three places simultaneously to get them working again, your version of computing will never replace them.

    --
    "Win treats sysadmins better than users. Mac treats users better than sysadmins. Linux treats everyone like sysadmins."
  35. Re:Need for long-term view of society by khallow · · Score: 1

    We do have the resources to feed, clothe and shelter everyone on this planet.

    So what do you have to offer for that food, clothes, shelter, etc? Especially, if you're the sort that makes more problems that require food, clothes, shelter, etc. Labor for the stuff you want is a system that works. It gives the providers of stuff incentive to give you stuff.

    Hoping that someone provides you with the resources you need depends on a morality or ethics system that might not always be there.

  36. A few things to fix this country. by Anonymous Coward · · Score: 0

    End H1-B Visas - you want to work in America, start working on becoming a citizen.
    Forget about welfare to illegal immigrants - take the children born in the U.S., put them in orphanages, ship the parents back to their country - unless they have applied for citizenship, are working and paying their share, and the company they work for is paying for things like insurance, etc...

    Erase the corporate tax-evasion loopholes - anything sold to U.S. citizens gets taxed before the money flows to the company.

    No more off-shore shenanigans. This includes foreign corporations - all monies foreign or domestic for sales gets taxed before leaving our borders.

    Switch to a national sales tax, for everything - no more income tax. Items bought from overseas get double taxed (on top of importation duties)

    Finally, forget about taxing income from stocks / bonds. Switch to a pure sales tax.

    Every time a stock is bought or sold, a solid 10 to 15% sales tax added to it.
    No more long term, short term gains, just tax every sale of every stock to the billionth of a penny.

    For futures of real items, make it so that buying the futures includes the costs of shipping and storing those items. No more making farmers pay for crop storage so someone else can sweep them up later at an incredible discount.

    Stop scum-bags from feeding off the less-well-to-do. Make them pay more than their fair share since they've been welching on the economy for so many years.

    Turn the tides against the top 10%, turn it around hard.

    1. Re:A few things to fix this country. by arvin · · Score: 1

      End H1-B Visas - you want to work in America, start working on becoming a citizen.

      What work have you done to become a citizen?

  37. Re:Need for long-term view of society by CommanderK · · Score: 1

    we will have human level ai in 10 years, but even if you are not, 25-50 years is easily more than enough time to complete it

    That's what people have been saying for the last 50 years or more, and I don't think we're any closer now than we were back then.

  38. Re:Need for long-term view of society by CommanderK · · Score: 3, Insightful

    How does this "true communism" you speak of differ from the one that's been tried, and has failed over and over and over?

  39. The one percent have spoken by Hey_Jude_Jesus · · Score: 1

    All you lowly non-billionaires bow down in aww!

  40. Ah yes, lower the standard of living to fix it! by Anonymous Coward · · Score: 0

    What a complete moron. I used to actually have at least a LITTLE respect for Greenspan, but seriously? Anyone who thinks this is a good idea must have such an advanced case of cranial rectal insertion that removal is likely to be impossible. On the other hand, my opinion of Gates has actually improved, just a little bit. Better planning for the future is always in order, and sticking with the same old paradigms for too long can eventually have significant consequences. You don't just turn the ship around overnight so people need to keep an eye on these things and push for little course corrections along the way.

    1. Re:Ah yes, lower the standard of living to fix it! by gmhowell · · Score: 1

      What a complete moron. I used to actually have at least a LITTLE respect for Greenspan, but seriously?

      You should be more circumspect about people who not only view Ayn Rand as a brilliant thinker, but a sex object as well.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    2. Re:Ah yes, lower the standard of living to fix it! by Third+Position · · Score: 1

      I strongly suspect the Greenspan comment was a veiled sarcasm that didn't quite register in print. Income equality has never struck me as being one of his primary concerns.

      --
      American Third Position
      Finally, a real choice!
  41. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    That's what people have been saying for the last 50 years or more, and I don't think we're any closer now than we were back then.

    Do you know what happened to the boy who cried wolf? His entire town was eaten because after the third or fourth time they figured there'd never be a wolf so there's no reason to prepare.

  42. Re:Need for long-term view of society by Qzukk · · Score: 2

    Labor for the stuff you want is a system that works. It gives the providers of stuff incentive to give you stuff.

    It works as long as "providers of stuff" need labor.

    The real problem with the "post scarcity" world is that labor is becoming less scarce than resources. Even if every last thing was made by robots, someone has to pay for the stuff the robots make it from.

    --
    If I have been able to see further than others, it is because I bought a pair of binoculars.
  43. Duh by Anonymous Coward · · Score: 0

    We've all seen this movie, we lost. :(

  44. Re:Need for long-term view of society by Dr+Max · · Score: 1

    They didn't have a period of prosperous capitalism first, that lenin predicted they would need. There are two problems to face with commuism. First if your country and people are all poor, splitting up what little you have and sharring it equally just means a lot of people have next to nothing. Secondly if all people are equal, and paid equal, how do you convince some people their job is to clean toilets while other people are testing video games. A period of properous capitilism while the country builds industry and gets rich solves the first problem, the second problem is solved with robot toilet cleaners.

    --
    Rocket Surgeon.
  45. Re:Need for long-term view of society by matthewv789 · · Score: 1

    Except that it is a problem. Soon, the only "skilled job" left that robots won't easily be able to replace (or will they?) will be as a prostitute. I sure hope you can "adapt your skills" adequately.

  46. Re:Need for long-term view of society by Mabhatter · · Score: 4, Insightful

    remember this is the same Bill Gates that helped pioneer the 'Perma-Temp" and the two-tiered employee systems.... The ones where the "good" employees have the great perks while the "grunts" don't even get to call themselves "employee" and get passed from shady temp agency to temp agency every 3-5 years.

    The problem isn't upgrading skills, it's reducing the hours per week so more people can work full time and making a big culture shift away from the era of "work addiction" and 50+ hour weeks. Companies would rather pay Bill Gates 3/4 of your salary than pay another employee... he's been laughing and rolling in sacks of money for 3 decades because of that tendency.

    I truly don't think these guys understand the economics involved. the per capita wages in most of the USA is in the $40k range from low to high depending on region. They are so disconnected from the idea of money as anything except a "score card" they have no concept of what regular people do with it.

  47. Re:Need for long-term view of society by Dr+Max · · Score: 1

    Its an old saying that fussion is always 20 years away. That said we have had net gains in power with multiple fussion experiments now, and even a guy that claims to have produced lenr (low energy nuclear reactions) almost akin to alchemy because it turns nickle into copper. I can list all the successfull AI research and devolpment, but ultimately the only way to see who is right is to wait 10 years. To be fair the kind of AI they were talking about 50 years ago does exist today in stuff like siri, ibm watson, and driverless cars. What is going to happen over the next 10 years or so is going from simulation (ibm watson) to hardwired (neruomorphic processors) which will be much faster, cheaper and alot more energy effcient.

    --
    Rocket Surgeon.
  48. Re:Need for long-term view of society by infinitelink · · Score: 0

    "capitalistic" simply means "unfettered human cooperation", and it's the "unfettered" that's the problem; but your socialist rhetoric is about two hundred years out of date and every experiment ever done in it failed miserably. The problem isn't "capitalism", but that we have the wrong fetters: none for the greedy and powerful in the name of protecting the [true] needy and weak from their under-feet, all in the name of protecting the latter to restrain and impair their ability to compete--to join-together. Government stance: "it's for your own good don'tcha know...so break the rule and we'll fuck you."

    --
    Intelligent idiots are we. | Evil men do not understand justice.
  49. An overview, IMHO: by fyngyrz · · Score: 3, Insightful

    Most of the poor get richer slowly as technology raises their standard of living. Those controlling the system get richer much faster as they reap the same benefits, along with the majority of the usable output of the poor. Some kind of a despised, often disenfranchised class is maintained to focus the anger of the population away from those controlling the system. Almost everyone advances; the gap grows ever larger. It has always been this way; likely it will always be so.

    --
    I've fallen off your lawn, and I can't get up.
    1. Re:An overview, IMHO: by Anonymous Coward · · Score: 0

      Not in some countries.

    2. Re:An overview, IMHO: by fyngyrz · · Score: 1

      I should have made clear I was speaking of the USA and the forerunner inputs to the USA. My apologies.

      I'd be fascinated to hear about a country that doesn't work this way, though. Can you elaborate?

      --
      I've fallen off your lawn, and I can't get up.
    3. Re:An overview, IMHO: by gl4ss · · Score: 1

      well, there are countries where things haven't worked to that direction.

      but it's mainly because the populace has been hacking each other into bits with machetes.

      --
      world was created 5 seconds before this post as it is.
    4. Re:An overview, IMHO: by Lumpy · · Score: 2

      "Almost everyone advances; the gap grows ever larger. It has always been this way; likely it will always be so."
      Until the gap becomes very wide, then the poor kill all the rich, loot their estates and the cycle repeats.

      Give it another 10 years and the gap will be getting near the,"let's form an angry mob and kill the rich guy, we can feed the whole city off of what is in his house."

      --
      Do not look at laser with remaining good eye.
    5. Re:An overview, IMHO: by ThosLives · · Score: 1

      Give it another 10 years and the gap will be getting near the,"let's form an angry mob and kill the rich guy, we can feed the whole city off of what is in his house.

      I don't know many rich people that have a food warehouse in their residence. People tend to forget that most of the wealth of rich people is "paper" wealth - it still has to be converted to real goods and services at some point in time.

      In the extreme situation you proposed - how are you going to ensure that farmers are still going to be producing food, and food delivery people are still going to be delivering food, so that taking the stuff in a rich person's house can still "feed the whole city"?

      If there is a situation as you describe - all that "paper" wealth of the rich vanishes immediately... so are they really wealthy? The wealth of the rich really does depend heavily on the willingness of the masses to participate...

      --
      "There are a dozen opinions on a matter until you know the truth. Then there is only one." - CS Lewis (paraprhase)
    6. Re:An overview, IMHO: by Anonymous Coward · · Score: 0

      And the 1940 - 1960's in the US. We are back to as bad as we were in the 1920's currently. The issues stem from how we permit the market to price capital vice how we price labor. It isn't as simple as just hand waving to the Iron Law of Wages. The government can, has and is currently failing to flatten the GINI at the same time as increasing total utility across the market, and increasing median standard of living. Society get's to decide how markets are formed and how they operate. We can choose the "hands-off" approach, which due natural short comings in our markets (they lack all of the charcteristics of idealized free markets), or we can address those short comings and improve the market result for the vast majority of participants.

    7. Re:An overview, IMHO: by Anonymous Coward · · Score: 0

      Herp Derp.... Really? are you that stupid to think he was saying they have warehouses of food? are you actually that stupid? That's right, we see TV coverage of looting where people steal a TV and start gnawing on it... Again, herp derp....

      Rich people have stuff, that can be sold or traded for food. Do you really not understand that? the asshole with a solid oak front door and copper kick plate, that copper kick plate will feed a family a meal by trading it to someone.

      many of the rich have been hoarding gold and silver, most of the rich republican nuts mostly.... but they have that there somewhere.

      I suggest you read up on a tiny insignificant event that happened a while ago in france. Called the French Revolution, It really was not covered much in history. The people rose up and started gnawing on furniture, there's lots of fiber in cherrywood.

    8. Re:An overview, IMHO: by bigpat · · Score: 2

      I largely agree, but take issue with the phrase "standard of living" in this context and in this discussion thread. A broad middle class in America has been about more than the advent of indoor plumbing, smartphones and the ability to buy bread at the supermarket, but about political empowerment.

      Even looking back at the 19th century, America turned on its head the European idea of "landed gentry" when we created a society in which land was cheap and plentiful (yes this was at the expense of native Americans) and this enabled a "middle" class of people that were more self sufficient and therefore more politically empowered in a democratic republic. And then into the twentieth century wealth took other forms, but American wealth still retained the characteristic of being broadly distributed enough to empower a large portion of the population.

      The elite like to focus on technology and short term measures of resources because it is something that gives people a sense of control. And yes technology can enable the kind of wealth creation that will lead to a more vibrant democracy and freedom. But I believe the measure of a society is both the Freedom and the prosperity that it hands to the next generation. Without a positive growth in the measure of both Freedom and prosperity, then our civilization is failing to really increase our "standard of living".

    9. Re:An overview, IMHO: by next_ghost · · Score: 2

      Most of the poor get richer slowly as technology raises their standard of living.

      This trend stopped in the USA and many other western countries sometime in the late 1980s. According to official statistics, real wages of poor and middle classes have stagnated since then. In other words, the poor and middle classes lost as much actual income as they gained indirectly through technology.

    10. Re:An overview, IMHO: by matthewv789 · · Score: 1

      You're mostly correct, except that, relative to cost of living, quite possibly a majority of the population has been getting POORER when it comes to hourly earnings.

      This is usually covered up by using mean income instead of median, by using household income (not taking into account the number of hours worked by a "household") instead of income per hour worked, etc.

    11. Re:An overview, IMHO: by fyngyrz · · Score: 1

      There's no "except" about it -- I wasn't talking about income. I was talking about material wealth.

      --
      I've fallen off your lawn, and I can't get up.
  50. Re:Need for long-term view of society by Immerman · · Score: 1

    When has communism ever been tried on a national level? The core tenet of communism is that the people own the means of production - every "attempt" thus far that I can think of has had the government own the means of production. The only way those two concepts are compatible is if the people truly own the government. Are you prepared to state that has *ever* been the case, anywhere? Even in a government that wasn't claiming to be communist?

    --
    --- Most topics have many sides worth arguing, allow me to take one opposite you.
  51. Re:Need for long-term view of society by locopuyo · · Score: 0

    No one in the United States has problems with food, clothing, or shelter.

  52. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Soon, the only "skilled job" left that robots won't easily be able to replace (or will they?) will be as a prostitute. I sure hope you can "adapt your skills" adequately.

    How's that going to help? The 0.1% can fuck up far more people than they can fuck.

    They'd be fine with just the top 1% fuckables. So if they end up owning everything we'd be completely screwed unless they start collecting pet humans as a hobby or show of status. In which case we'd only be partially screwed - pets don't get reproductive or voting rights.

  53. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    There is a problem though, in that the populations continue to rise, but the number of human beings needed to provide them essential services continues to fall. Certainly the model-T and buggy whips argument is valid, and many innovations open new markets into which reskilled people can enter. But that's a separate valid phenomenon which does not address the sheer reduction in needed people to provide most of the services you and I feel are needed to live our lives. When we build robots that can build houses, they will displace a huge portion of the construction industry. This will stimulate the market of jobs that support those robots: programmers that build house building algorithms, service technicians for the robots, etc. But not nearly as many of those jobs are needed as construction jobs, because they leverage of one programmer writing code for house building robots is enormous, for example. So the total number of workers needed is decreasing overall and the population is increasing. What has always happened historically in these situations, is wealth becomes concentrated in a small number of hands, and the remainder become impoverished: kinda like the dissolution of the middle class you are seeing right now... What's never happened in modern history is the implementation of essentially socialization where every has basic needs provided at minimal cost plus a discretionary productive capacity (an entitlement that allows you to buy fun stuff). There are many interesting solutions to all of this and they are very complex, and none has ever succeeded. Not to be doom and gloomy. We'll have to solve it if we are going to move forward, because the reduction of necessary labor is happening and has been for a couple centuries.

  54. Re:Need for long-term view of society by pitchpipe · · Score: 3, Funny

    I would give a lot to meet you in a dark alley sometime...

    What if he beat the shit out of you? Would you want your money back?

    --
    Look where all this talking got us, baby.
  55. Huh by Anonymous Coward · · Score: 1

    The solution to inequality is to import poverty wages so the wealthy can further widen the gulf between their wealth and that of their employees?

  56. Oh, they will, all right. by fyngyrz · · Score: 2, Interesting

    Soon, the only "skilled job" left that robots won't easily be able to replace (or will they?) will be as a prostitute.

    I can pretty much guarantee you this will be one of the areas where robots could do an excellent job, far better than any human could. As to whether they will, that remains to be seen, but I must point out that the sex industry is already trying the idea on for size with RealDolls and so forth.

    Let's say that we get to excellent automatons and high quality body manufacturing. Not even AI. Given that, we can have a robot sex worker that can focus on you, and only you, and really, really mean it. It can do it for an hour and go on to someone else, or it can do it for your entire lifespan without ever straying -- whatever you like, or can afford. It doesn't care about your other relationships and will treat you as #1 no matter how you stray or experiment. It won't be jealous unless you want it to, and it will participate if that's what you want. It can remain disease-free and safe. It's not going to have a period, be distracted, moody, greedy, angry, or have any kind of a problem if you get a phone call. It won't demand that you recognize its power, or fill your ear with talk of equality or fairness. It will have a repertoire of skills that will dwarf any human's. It isn't going to inevitably age or get ugly, although it could definitely change in any way you want it to -- hair, skin, body type, sex organs, lips, eyes, etc. such that it could be someone (thing) different every day of your life, and it's going to enthusiastically go along with your wildest kinks, only difference being that it will be better at them than you are, all to your benefit. It won't require gifts, child support, get pregnant, or stray. It won't get tired of you, it won't be duplicitous, it won't ever call a lawyer or a friend and violate your trust, it won't require a pre-nup, nag you about marriage, or threaten you with multi thousand dollar wedding dresses and even more expensive weddings. There will be no in-laws, and you will never come home to find a pocket dog with a face like satan, a yip pitched such that it could shatter glass, and a body like a wharf rat on your couch, complete with a brand new puddle of urine on your oriental rug.

    The question most here aren't asking is, what does society look like when there simply aren't jobs to do? It doesn't have to be a bad thing. The narrative that "one must work to have dignity and/or happiness" is nonsense pushed into the psyche of the ignorant from above. The no-work situation is coming, no doubt about it: what it will look ilke will depend entirely on what the population can be made to put up with.

    --
    I've fallen off your lawn, and I can't get up.
    1. Re:Oh, they will, all right. by gmhowell · · Score: 2

      You sound like you've spent a lot of time thinking about this.

      --
      Jesus was all right but his disciples were thick and ordinary. -John Lennon
    2. Re:Oh, they will, all right. by Curunir_wolf · · Score: 2

      The question most here aren't asking is, what does society look like when there simply aren't jobs to do? It doesn't have to be a bad thing. The narrative that "one must work to have dignity and/or happiness" is nonsense pushed into the psyche of the ignorant from above.

      No, it's not, not at all. It is actually very true. Happiness is derived from having meaningful activity to do, not from sitting around watching TV. Leisure time can only be appreciated as a reward for productive activity.

      That said, the difference may be that the activities you enjoy may not necessarily need to be something that other people value, which is required in commerce. People can be artists, or tinkerers, gardeners or hackers. If they don't need to earn a living doing it, it won't matter that they are no good at it for many years, they won't be out on the street because they couldn't sell their paintings or their band couldn't get a record deal. If you're not desperate to bring home a paycheck, there is a lot of pleasurable work to do, but working toward some meaningful accomplishment really is required for dignity and/or happiness.

      --
      "Somebody has to do something. It's just incredibly pathetic it has to be us."
      --- Jerry Garcia
    3. Re:Oh, they will, all right. by fyngyrz · · Score: 1

      Happiness is derived from having meaningful activity to do

      That is true, but in no way negates what I said. Meaningful activity != work.

      --
      I've fallen off your lawn, and I can't get up.
    4. Re:Oh, they will, all right. by fyngyrz · · Score: 1

      This is my answer to you.

      The photo used shows myself and my lady. The conversation happened exactly as depicted. ...she's smarter than me. Obviously. :o)

      --
      I've fallen off your lawn, and I can't get up.
  57. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Bullshit, Very Smart AI is decades off. possibly 50+ years and I say that as someone that works in the space!

  58. Inequity? Pah, nonsense. by Anonymous Coward · · Score: 0

    Microsoft is known to pay some experienced developers as little as $90k a year, and hire fresh ones out of college at $135k. And THEY talk about inequity. Fuck this shit.

  59. Linux helped me replace Bill Gates and Co. by Anonymous Coward · · Score: 0

    nt

  60. Cost of resources by fyngyrz · · Score: 1

    Even if every last thing was made by robots, someone has to pay for the stuff the robots make it from.

    No. Doesn't follow. Effectively infinite resources await us nearby in space. Robots can mine and refine and manufacture whatever we need indefinitely from those resources. We're not there yet, but it is certainly an attainable goal from where we stand right now.

    --
    I've fallen off your lawn, and I can't get up.
    1. Re:Cost of resources by sjames · · Score: 1

      It doesn't matter if those resources are controlled by a bazillionare who asks "what do you have that I want" when you ask for resources to live. That's why capitalism cannot actually get us all the way to where we want (and need) to be.

      The last transaction in capitalism will be a mugging unless it gets replaced first.

  61. Anyone remember the Trees? by MerlynEmrys67 · · Score: 1

    I always think about this when someone wants everything to be equal - Thank you A. G. for quoting Rush so well So the maples formed a union
    And demanded equal rights.
    "The oaks are just too greedy;
    We will make them give us light."
    Now there's no more oak oppression,
    For they passed a noble law,
    And the trees are all kept equal
    By hatchet, axe, and saw.
    Rush - "The Trees" Nothing like using more H1-Bs to bring down EVERYONE's living wage to make us all more equal. For my next magic trick I will tax the rich at 90% and watch our income tax receipts go to 0.

    --
    I have mod points and I am not afraid to use them
  62. CEOs by pitchpipe · · Score: 5, Interesting

    ... said Greenspan. 'You don't have to necessarily bring up the bottom if you bring the top down.'

    Sounds like Greenspan is arguing for a CEO salary cap. I'd say 25 times the lowest paid contractor or worker in the CEO's organization cap on CEO pay would go a lot more toward lessening this income inequality.

    --
    Look where all this talking got us, baby.
    1. Re:CEOs by Anonymous Coward · · Score: 0

      Yeah. I wonder how many H1B CEO jobs there are. He's saying "bring down the top", but what he means is "bring down the middle".

      Never mind the fact that he's arguing the way to balance out wages is to bring everyone but the top tier down to "low". Oh, and from a country perspective, the H1Bs are going to displace other low-to-mid workers, so that brings someone else down from low or middle to none.

      CAPTCHA: parapets

    2. Re:CEOs by GrumpySteen · · Score: 1

      It sounds that way, but it's intentionally deceptive. The trick is that the income inequality that Greenspan is referring to is the inequality between skilled and unskilled workers, not the disparity between CEOs and everyone else.

      He's arguing that programmers should be paid more like McDonald's burger flippers, not that CEOs shouldn't make hundreds or thousands of times more than their lowest paid employees.

      Expanding the H1-B program would increase competition and drive down wages, but only in the middle class. In fact, the added profits from paying workers less would probably increase the bonuses that CEOs get and create even more income inequality.

    3. Re:CEOs by Anonymous Coward · · Score: 0

      Sounds like Greenspan is arguing for a CEO salary cap. I'd say 25 times the lowest paid contractor or worker in the CEO's organization cap on CEO pay would go a lot more toward lessening this income inequality.

      Something like this is definitely needed. Networks of CEOs have cross-memberships on boards of directors and rubber-stamp one another's obscene compensation packages. The idea that hundreds of times the compensation of an average worker is needed to "attract the best talent" is farcical. If they want to get rich when the company succeeds they should buy stock with their own funds, not have it handed to them. Their asses also need to be actually on the line when the company does poorly; far too many have put their companies into a nosedive and then pulled the ripcord on their golden parachutes.

  63. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    This sentiment is a little raw, but I agree with it.

    I'm not a fan of the current one person deserves all the toys and everyone else is a loser game. Wealth is something that other people respect. If the overlords convince themselves that they don't have to offer anything in return, there is no social contract anymore only thuggery. About the 1% there are people a lot better at that game than those fucktards. Meaning if they get the world they want, the first order of business. will be the people they hire to keep us in line sticking a knife in their belly. Historically that's what always happens.

  64. Re:Need for long-term view of society by bloodhawk · · Score: 1

    such systems have been just around the corner for 40 years now. What has changed recently to solve the problems inherent in such systems that they haven't been overcome in the preceding 40 years? interested to know as I left the AI research space about a decade back and even then our estimates were we would be lucky if we achieved true AI this century.

  65. Want to reduce inequality? Abolish the Fed by Anonymous Coward · · Score: 1

    Want To Reduce Income/Wealth Inequality? Abolish The Engine Of Inequality - The Federal Reserve.

    tldr; by printing excess money and loaning almost freely benefits the financial sector and speculators, but adds nothing to the real productive economy.

    http://www.zerohedge.com/news/2014-01-28/want-reduce-incomewealth-inequality-abolish-engine-inequality-federal-reserve

    1. Re:Want to reduce inequality? Abolish the Fed by Anonymous Coward · · Score: 0

      tldr; by printing excess money and loaning almost freely benefits the financial sector and speculators, but adds nothing to the real productive economy.

      It benefits everyone who is poor enough to be in a lot of debt and hurts everyone who is rich enough to loan other people money.

  66. Re:Need for long-term view of society by phantomfive · · Score: 1

    I think it's time to start talking about moving past a capitalistic economy.

    If you haven't noticed, we've been talking about it for over 150 years. Alternate economic systems have been attempted, even at large scale, without much success. What new things would you like to explore?

    --
    "First they came for the slanderers and i said nothing."
  67. Re:Need for long-term view of society by Anonymous Coward · · Score: 1

    ultimately utopia is when no one has too work, people do things to enhance their lives, be it art, philosophy, gardening whatever. with luck and capitalist driven technology we will eventually reach that tipping point, I am sure it will be messy in the transition and probably involve a lot of government intervention as we move from a wealth driven society into something else entirely, should be a hell of a ride though.

  68. Re:Need for long-term view of society by Jeremi · · Score: 2

    The only way those two concepts are compatible is if the people truly own the government.

    I'm not sure the concept even makes sense. You can say "the people own the government" all you like, and it sounds nice, but sooner or later actual decisions have to be made, and (unless it somehow becomes practical for every person to vote on every issue every day), there will necessarily be certain individuals or groups who are chosen to make those decisions on behalf of everyone else. And that's where things start to go downhill, as those individuals or groups that get to make the decisions will be very tempted to use their position of influence to gain yet more power for themselves, until sooner or later they are effectively "the government" and you're right back at socialism (or worse, totalitarianism).

    The problem with communism is it assumes that everyone (and in particular people who are given power) will usually act for the benefit of the community, rather than for personal gain. That assumption has been shown to be reliably false when tested on actual human beings.

    --


    I don't care if it's 90,000 hectares. That lake was not my doing.
  69. Re:Need for long-term view of society by Jeremi · · Score: 3, Informative

    No one in the United States has problems with food, clothing, or shelter.

    Is this like Ahmadinejad saying there are no homosexuals in Iran?

    Because the 600,000+ homeless people in the United States certainly have a problem with shelter.

    --


    I don't care if it's 90,000 hectares. That lake was not my doing.
  70. Criminality can be relative by fyngyrz · · Score: 3, Insightful

    You demonstrate complete ignorance of what a true state of desperation is. Any society that allows its citizens to become desperate has abandoned any chance at a peaceful existence, regardless of the delicious flavor of its rhetoric. Keep an eye on the constantly growing convicted felon class for profound examples.

    --
    I've fallen off your lawn, and I can't get up.
    1. Re:Criminality can be relative by CommanderK · · Score: 1

      Much poorer countries than the US have far fewer felons (in fact, the US has the highest incarceration rate in the world). Poverty isn't correlated with the number of felons. I think it's ignorant for a citizen of the world's top superpower (and one of the richest countries on the planet) to argue about desperation. I grew up in a developing country, with many more poor people and in worse situations than any I've heard about in the US, and yet they don't go around murdering others for food (except if they're criminals). By the time the US is in that bad a shape, much poorer countries will already be much worse off and probably invading.

    2. Re:Criminality can be relative by fyngyrz · · Score: 1

      The US has already descended into a condition where large groups (hundreds) of people live under bridges, absolutely cannot find employment, and have completely run out of whatever portion of the social safety net that applied to them. These people are desperate by any sane measure, and society treats them as 100% un-rehabilitatable. Some of them are going to act out -- although they almost certainly would not have if they had even minimal food, shelter, and some tiny margin of hope. Some will just fold in on themselves, sure. Anger can go many directions other than reprisal, even righteous anger.

      The point of mentioning felons was exactly that: with just a few percent of the world's population, we have 25% of the prisoners. That doesn't even count the convicted felon class that is out on the street, the majority of which are basically unemployable and certainly not mobile, class-wise. Exceptions exist of course, but that's the general case. So we have this large disenfranchised class, and something that is different in the US than in many other countries is that these people have almost no, that is basically zero, hope of moving back into society's warm embrace. They are truly locked into the lowest class, and they will stay there for the most part. The more of them there are, the more likely the tiny group that take reprisal for what they see as an injustice will puke out a serious problem for everyone else. We're digging our own hole here.

      As a citizen, apparently, of another country, is yours a country that makes sure that if you commit a felony, that you are done with any chance at a job? In most european countries, rehabilitation is a real thing. Not here.

      --
      I've fallen off your lawn, and I can't get up.
  71. Re:Need for long-term view of society by Dr+Max · · Score: 1

    Neruomorphic chips are going to be a big change. When we are simulating hundreds of neruons and synapses on transistors and memory it uses a huge amount of resources (transistors, silicon, memory) to do even a simple job like win jeopardy, once we are building millions of hardwired versions of these neurons and synapses (which has already started, essintally just a bunch of wires that can change resistance) it becomes much more accessible and much more powerfull.

    --
    Rocket Surgeon.
  72. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    What a load of garbage. systems like Siri, Watson and driverless cars are little more than complex rules engines or expert systems. They are about as far away from AI as your average toaster is.

  73. Re:Need for long-term view of society by sjames · · Score: 2

    Not even close to right. If there are X people needing jobs and only X/3 jobs to be had, no amount of updating your skills will get the unemployment rate below 66%.

    Forcing pay up and hours down until there are X jobs available will solve the problem.

  74. Fuck you Alan Greenspan by Anonymous Coward · · Score: 1

    We suffered through decades of your policy to keep the economy unstable to keep wadges low.

    Now I have a quote from Dick Cheney:

    Go fuck yourself.

  75. Re:Need for long-term view of society by Immerman · · Score: 2

    I'm inclined to agree with you - and thus inclined to believe that no matter how much I like many of the principles that underlie communism, we're a long way from being able to actually attempt it (which was my original point to CommanderK) A *strong* democracy might be a reasonable facsimile to the populace owning government, but while there are a few interesting experiments in the world I don't think anyone's really succeeded in reliably bringing their government to heel so that it reflects the will of the people rather than that of the power brokers.

    As far as I'm concerned that's step one towards communism - figure out how to get the government to truly serve the people. Once we've got that we can worry about the economics later, if it's still even a relevant question. In the meantime I'm going to give anyone advocating communism a swift kick in the groin as a wannabe fascist.

    --
    --- Most topics have many sides worth arguing, allow me to take one opposite you.
  76. /dev/null by Anonymous Coward · · Score: 0

    is the beast's head of one microsoft way talking again?

  77. Re:Need for long-term view of society by sjames · · Score: 2

    Sure we are. Self driving cars were pure fiction then. Now they have actually been demonstrated. Back then, the idea of computers executing market deals autonomously was pure Sci-fi, now it's every day reality.

    But far more common is computer augmentation. One guy with a spreadsheet today gets as much done as a roomful of people with adding machines back in the day. Mind you, he doesn't get paid like a roomfull of people.

  78. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    neurons are NOT hardwired in the brain, this is the inherent weakness and problem that has not been solved nor is it close to being solved. neurons in a human brain constantly break and re-establish new and sometimes random connections. your so called neruomorphic chip does not solve this problem.

  79. Re:Need for long-term view of society by sjames · · Score: 4, Insightful

    That has always been the problem for AI. As soon as it works, we no longer consider it to be AI, so they get no credit for the accomplishment.

  80. Re:So he caused the last couple of financial crisi by Anonymous Coward · · Score: 0

    Sock puppet!

    He's no sock puppet; he's an insider leading fucking leading the charge.

    So its more like the other way around.

  81. Re:Need for long-term view of society by bloodhawk · · Score: 1

    No it isn't, we currently have no AI, nor are we close to having it. What we have is increasingly complex expert systems. We aren't even close to having systems that can adequately understand the nuances of spoken language let alone true AI.

  82. Re:Need for long-term view of society by sjames · · Score: 1

    HaHaHaHaHaHaHaHaHa!

    You should try leaving your gated community once in a while.

  83. Re:Need for long-term view of society by Dr+Max · · Score: 1

    You can still hardwire it. You just set all of the wires at the start to be weighted to zero (high resistance) till the brain decides it needs the connection.

    --
    Rocket Surgeon.
  84. Re:Need for long-term view of society by sjames · · Score: 1

    Expert systems were considered to be very much the domain of AI until they started working.

    Dogs have a non-zero intelligence and all they can say is woof.

  85. Re:So he caused the last couple of financial crisi by Anonymous Coward · · Score: 1

    And now Greenspan wants to start the class war in America?

    Start?

    While you've been watching TV and slurping Coke for the last 40 years, he's been out there winning it.

  86. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    and that leaves you with exactly the same problem we have had for 40 years in modelling AI. the weighted models just don't work, they learn to a hard wired position, you can reset them and start again or you can make them increase and decrease the weightings, but you inherently have a broken way of modelling AI that has proven to simply NOT WORK.

  87. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    So i don't want to get into a fight about the deffintion of AI; but if you showed someone from 50 years ago siri (able to understand your speach then give you an answer (some of the time)) and a toaster (can toast bread when you put in bread and press a button) i think they would be more impressed by siri's artificial inteligence.

  88. Re:Need for long-term view of society by bloodhawk · · Score: 1

    working expert systems have been around for many many decades. I used to program in an expert system dev tool called AionDS back in the 80's. Decision and Expert systems were commonly worked on in the AI community but I don't know anyone that considered them AI even back then.

  89. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Yet if you showed someone 50 years ago siri on a cellphone, they would be very impressed with its inteligence. I'm not claiming siri is AI, and no one has said we have Holly from red dwarf or terminator skynet ready to go on the shelf, but we are now venturing into the start of proper AI. Especially in our work on nerual network programing and hardware, where we have built self learning systems that can think and remember the same way we do.

  90. Re:Need for long-term view of society by bloodhawk · · Score: 2

    I think the point is, Siri is NOT able to understand your speech. It is able to do voice to text translation and then perform a search. That is not understanding speech, Siri has no more understanding of what you said than a toaster understands what people are putting in it. The problem is we have gotten so good at tech and have so much processing power and data mining capabilities nowadays that we can dress up technology that is little more than basic computer operations to appear intelligent. That is not to make light of the work done by google, Microsoft or Apple in processing search, it is pretty impressive what they have done, but it aint AI.

  91. Re:Need for long-term view of society by sjames · · Score: 1

    Right, because they were working by then. Look back further, the world existed long before the '80s.

    Have a look at this timeline. YES! All of those things were once considered to be the domain of AI. Consider how each of those things that are commonplace today are no longer thought of as AI.

  92. Top down? Bottom up? by Anonymous Coward · · Score: 0

    > 'You don't have to necessarily bring up the bottom if you bring the top down.'

    Now, now, Mr. Greenspan. This sounds somehow... creepy.

  93. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    sorry but neural network systems and programming has also been around for 30 or 40 years. It really is still in its infancy and if you think we are about to suddenly have an AI revolution in the next 30-50 years I think you should be ready for serious disappointment. We haven't even come close to designing true self learning machines beyond very basic well defined environments. WE have had an incredible increase in processing capabilities of computers though and this has allowed many industries to basically completely abandon AI as what they have been trying to solve with intelligence they are instead achieving with brute processing power, Look at Siri, Watson or Self driving cars. None of these systems rely on AI, instead they rely on large compute capacity and advanced Data systems such as GPS data, 3D vision Algorithms, huge databases and raw processing grunt to achieve what once was hoped could be done with AI.

  94. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    But, all out socialism, communism and capitilism are bad ideas. The best is a combination... I'ved lived both in the USA and a "social-democracy" country in the EU (in both places for a siginificant about of time)... and I'd have to say I prefer the social democracy much better. We earn a little bit less than in the USA(maybe 5-10% less), but I have access to free colleges, MUCH better k-12, sick days and vacation for everybody, and and I can't forget, the health care is leaps and bounds better.

     

  95. Re:Need for long-term view of society by Dr+Max · · Score: 1

    A crowdsourcing type aproach could be a possible solution. If anyone that cares enough about a paticular decision is given an oportunity to be a part of the decision making process, then they could out weigh the people just in it for them selves. Do you need to own the whole goverment or just the part that interests/effects you? For example i don't care what type of flowers are planted at our park or if school kids should have more or less holidays, but i do care about our next gen internet service.

    --
    Rocket Surgeon.
  96. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    there will always be losers in the world and it will always be everyone else's fault but there own. thank you for providing that perfect example. This has how it has always been and most likely always will be, exists under every form of government and economic model that any society has come up with since the dawn of time.

  97. Re:Need for long-term view of society by Dr+Max · · Score: 1

    The weighted model is how everybodys brain works, this is just replicating it on silicon. It works in simulation, its just you need a supercomputer to model a worms brain.

    --
    Rocket Surgeon.
  98. Re:Need for long-term view of society by Rich0 · · Score: 1

    we will have human level ai in 10 years, but even if you are not, 25-50 years is easily more than enough time to complete it

    That's what people have been saying for the last 50 years or more, and I don't think we're any closer now than we were back then.

    Yup. And the Apple Newton just proves that there is no future in tablets as well.

    The fact that something has never been true does not mean that it never will be true.

  99. Gemder gap. by Ultracrepidarian · · Score: 2

    By the same logic, we could close the gender gap by paying men 20% less.

    1. Re:Gemder gap. by Anonymous Coward · · Score: 0

      It's a good thing you're not a programmer :) Trust me, I know you're not.

  100. Re:Need for long-term view of society by Rich0 · · Score: 1

    Actually, part of the problem with AI experimentation these days is that I don't think they hardware things quite enough.

    The human brain isn't a random network of neurons that gets trained into adulthood. If you take two random people and give them the same stimulus, they're going to use the same regions of the brain to respond to it, generally speaking. The part of your brain that recognizes faces is the same as the part of my brain which does this (well, several parts most likely).

    So, while that might be the end-result of evolution, the engineering of our brains is clearly built into our DNA. There is some degree of flexibility around how it is wired as we grow, but if you have a stroke in the region of the brain that handles vision you're not suddenly going to regain your sight after 20 years of training and rewiring. You might very well have slight improvements, and you will certainly learn to cope using other senses and functionality that were unimpacted by the stroke.

  101. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    I am not seeing anything in that timeline that disagrees with what he said? it seems more you have a difference in the definition of AI (one of you is looking for true AI and the other is looking for the appearance of AI) basically unless you change the meaning for AI to be, anything that can "appear" to be intelligent then it really is just a shell game. Systems have gotten infinitely more complex, yes someone from 50 years ago would be stunned and amazed at what we have now, but we are not much closer to true AI than we were 40 or 50 years ago. Yes we can make machines do most anything, but we have yet to work out a viable way to make one that can think. We can make them follow rules or mathematical models, we can make them translate there answers to text or even human like speech, but we haven't been able to instil understanding in a machine. To a machine everything is just maths, there is no intelligence or understanding, just a serious of equations that generate answers.

  102. Greenspan has never followed logic by Anonymous Coward · · Score: 1

    The solution to income disparity is redistributive taxation, particularly on the very rich, like Gates. It is certainly not to put further wage pressures on the few classes of workers, still earning a liveable wage in the United States.

  103. Re:Need for long-term view of society by Dr+Max · · Score: 1

    That is an excellent point sir.

    --
    Rocket Surgeon.
  104. Re:Need for long-term view of society by Rich0 · · Score: 1

    How does this "true communism" you speak of differ from the one that's been tried, and has failed over and over and over?

    I imagine it is sort of like the difference between the Newton and the iPad.

    I doubt that outright communism will ever make sense, but I suspect that as technology advances the ideal economic model will probably be a lot closer to it than the capitalism of the past. What choice is there once technology advances to the point where there is no need to employ humans at all? Sure, that doesn't seem likely to be anytime soon, but what we see today is just one step farther along that path.

  105. Re:Need for long-term view of society by Rich0 · · Score: 1

    I think it's time to start talking about moving past a capitalistic economy.

    If you haven't noticed, we've been talking about it for over 150 years. Alternate economic systems have been attempted, even at large scale, without much success. What new things would you like to explore?

    Doing the same with modern technology? Attempting communism without robotics more advanced than even what we have today seems a bit like trying to market a smartphone in the 90s.

  106. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Communism and socialism is utter bullshit ... all books and information on that subject should be erased from history .....

  107. Re:Need for long-term view of society by sjames · · Score: 1

    Then you're not actually reading the timeline. AI is not a Scotsman. I am looking at the well known sub-field of computer science known as Artificial Intelligence. I am not the first to observe that anything from that field, once working well is no longer commonly considered to be AI.

    1965 Edward Feigenbaum initiated Dendral, a ten-year effort to develop software to deduce the molecular structure of organic compounds using scientific instrument data. It was the first expert system.

    Go ahead, look those guys up. Expert systems were very much considered AI when they were invented in 1965. By the '80s they actually worked and were no longer considered AI. Playing checkers USED to be thought of as AI. Not any more, probably because it works well and can be found in a child's toy.

    We will never know if a computer has achieved what you call 'true AI' we can only observe it's behavior and guess. Certainly I have met people that lead me to wonder in the other direction. Philosophers have questioned our ability to know if sentience exists at all for that matter.

    If you give it some thought, you'll realize that you don't actually have a good testable definition of what you consider 'real AI' at all. If I'm wrong, write that paper now, your Nobel awaits!

    I suspect though, that you simply lack perspective. There was a time when grown adults commonly believed computers were thinking simply because someone (not them, of course, it took a high level wizard) could type something to the computer and it would type back an appropriate response. The field of AI had somewhat higher standards.

  108. Automation by Anonymous Coward · · Score: 0

    Gates is right that there's one "job" that won't be automated: ownership.

    Don't be so sure. I can easily see big foundations or corporations owning everything. Basically they do have people managing the wealth, but they have to work within the foundations rules. And some rules just might be simple enough to automate away, and suffenly you have automated ownership. Might actually work out real nice. If said foundations kept people fed and warm.

  109. Re:Need for long-term view of society by Sarius64 · · Score: 1

    While I may agree with your assertions, I believe the 50 years ago comment relative to the discussion. 50 years ago speech recognition was a fantasy on the level Siri performs.

  110. Re:Need for long-term view of society by bloodhawk · · Score: 1

    many things were fantasy 50 years ago that we have today. that qualifies it as science fiction back then, not AI.

  111. Income Inequality by lagomorpha2 · · Score: 1

    "Meanwhile, former Federal Reserve Chair Alan Greenspan believes one way to attack income inequity is to raise the H-1B cap. If the program were expanded, income wouldn't necessarily go down much, but it would go down enough to make an impact. Income inequality is a relative concept, he argued. "

    The income inequality that is hurting the economy is not that some highly skilled people are making 6 figures and many workers only make 5 figures. The economic drain toward the top is from low wages and high corporate profits moving all the wealth to people who make 8-9 figures off capital gains. Expanding the H-1B cap would make the actual rich richer, the upper working class poorer, and not do much for the lower working class.

    Whenever people attack the rich somehow it always gets deflected toward the upper working class and this confusion needs to stop.

    1. Re:Income Inequality by Dcnjoe60 · · Score: 1

      Whenever people attack the rich somehow it always gets deflected toward the upper working class and this confusion needs to stop.

      That is because the 1%ers control the message.

  112. Re:Need for long-term view of society by bloodhawk · · Score: 1

    The weighted model is most definitely NOT how the human brain works, It is as close as we have come to modelling "some" cognitive patterns, but that is only a small part of the human thought process.. the human brain breaks apart connections and establishes new ones all the time and links memories and thoughts that have no simple mathematical equation that we have yet been able to fathom. The weighted model is atrociously bad at replicating this behaviour as hardware is simply not currently capable of the complex connection behaviour we see in the human brain and we are no where near having the hardware or software capabilities to fully replicate it.

  113. Start with false assumptions, get false result by Anonymous Coward · · Score: 0

    Not sure how you got modded up as insightful, but here goes - http://www.h1bwage.com/index.php actual data on all H1B wages.
    Go ahead, take a look. Put e.g. 2013 in year and say Google in the search. How many of these $250,000 a year are college level salaries?

    You are either misinformed or lie on purpose. H1B is required by law to pay prevailing wages. Also, people do not stay on H1B for long, most are entitled to get a green card fairly quickly, so employers "grip" on these workers is overrated...

  114. Re:Solved It by Sarius64 · · Score: 1

    I do hope you are doing well in your position. However, one wonders what the statistics are for successful fiction writers in your particular nation. Rick Frishman stated that 5% of authors are capable of living off their writing proceeds, but I do not have any solid data on the subject. If we accept that figure, should the other 95% of writers just die?

  115. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    I know its not AI, but 50 years ago if you showed it off to a bunch of AI researchers, and even told them how it worked, they would have considered it AI. Sure we know better now, that is because we are working on the 'real' AI ... or are we... we will get there one day though.

  116. Re:Need for long-term view of society by Dr+Max · · Score: 1

    Yeah yeah yeah, and a bunch of tiny little switches and wires will never be able to run a simulation of the world, with realistic physics, which you can run around in and play against AI (warning the AI isn't actully sentient in this case), or against other human players which might be on the other side of world.

    --
    Rocket Surgeon.
  117. Greenspan is warped by gatkinso · · Score: 1

    Take jobs away from American high earners, give them to foreigners... so that American low earners don't feel so bad.

    This country is screwed.

    --
    I am very small, utmostly microscopic.
    1. Re:Greenspan is warped by Dcnjoe60 · · Score: 1

      Take jobs away from American high earners, give them to foreigners... so that American low earners don't feel so bad.

      This country is screwed.

      No, he's not saying to take jobs from high earners. H-1b visas impacted the middle and lower middle class. His view is to let the top 5% keep their wealth and make everybody else poor, thus having income equality for 95% of America.

  118. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    It really depends on your definition of AI. there is nothing inherently Intelligent about the way Siri works, you could implement a scaled down version at home with no knowledge of AI, it is just a giant Database that utilises voice/text translation and search. The capacity to store that much data would have probably amazed them just as much and the idea of so much computing power in the palm of your hand would have amazed them far far more. people seem to be confusing converting science fiction to science fact with AI. No one is claiming what we have today isn't astounding or almost unimaginable to many 50 years ago, but that doesn't make it AI and I doubt those looking at it with an analytical eye back then would call it AI either, the only part the borders on it is the natural language processing, but siri does that so badly that I don't think anybody would consider it AI (at least not good AI).

  119. Re:Need for long-term view of society by Anonymous Coward · · Score: 1

    I would give a lot to meet you in a dark alley sometime...

    It's cute when balding obese white males that watch anime try to play tough.

  120. myopic statement by Anonymous Coward · · Score: 0

    "You don't have to necessarily bring up the bottom if you bring the top down.'"
    I feel like inflation may disagree...

  121. Maybe Gates and Greenspan should compare notes by Dcnjoe60 · · Score: 1

    Maybe Gates and Greenspan should compare notes. If technology and automation is going to be replacing even more jobs 20 years out, then there really isn't a need for increasing H-1b visas as supply and demand will take care of wages. The more displaced workers there are, the lower wages become. Increasing H-1b visas only serves to hasten the US on the track to a two class system - rich and poor. In either vision, Gates or Greenspan, that is bound to happen. But even if they are both wrong, the current political climate is pushing the US that way.

  122. H1-Bs are not the answer. by Anonymous Coward · · Score: 0

    Unemployment is a serious problem. We already have enough people competing for positions. Why not hire someone who already resides in the country? If we gave our OWN people the education they could fill all those high tech positions. But it's been seen as cheaper to import these workers from China and India with degrees so our own people get shafted more and more. The time has come to stop immigration except for farm workers only. Those positions can easily be filled by migrant workers with farm experience. Any high paying position should be reserved for someone born in the US.

    You want a solution? Make college cheap for Americans and expensive whoever else wants an education here. Set up a system that does try to place people in jobs training problems if they were born in the US.

  123. inequity??? by tommeke100 · · Score: 1

    The inequity is not between people making 5x times average or over 100k.
    The inequity is between average and corporate making 500x times that!

  124. Re: Need for long-term view of society by Anonymous Coward · · Score: 0

    That's only under very basic and limited definitions of what constitutes a 'job'.
    I'll tell you that in my country leftists and feminists managed to catalogue "Housewife" as a job, and you can retire with a state-paid pension, even though you obviously never contributed to social security. Note also that those champions of equality and justice also specificly ruled out "Househusband" as a job, because "they don't exist (and they shouldn't)".

    In sum, never underestimate the socialist's ability to distort and corrupt the meaning of words. The solution has always been to subsidize select groups of their voters so that they get paid for doing nothing, while keeping the rest exploited.

  125. Re: Need for long-term view of society by Anonymous Coward · · Score: 0

    That's because you assume that their definition of 'people' is the same than your definition of 'people'. That's a rookie mistake. For a communist, 'People' means the ruling party, and they don't hide it. Hugo Chavez even said clearly in his TV channel "I am a People, Carajo!"

  126. Greenspan is acting quite stupidly by Anonymous Coward · · Score: 0

    The majority of software made today is so poor its not even funny. At the rate things are going it will be at least 500 years before we no longer need skilled workers. The majority of jobs now present for low level tech jobs who are not programmers should be eliminated entirely, and we should hire MORE smart people to do the work. The present CEO ethos is to hire incompetant people, give them work they cannot do, and blame them when things go wrong. We should instead be automating everything, improving the automation and focusing on fixing the environment, preventing GMO issues, developing space travel, eliminating disease, examining strings (inside quarks and leptons) and creating better TV shows and books (etc etc). Instead, we are firing more and more people and creating a huge wage gap and funneling very little money into critical projects. There needs to be an about face in the planning of CEOs of today as their magazines are entirely bass-ackwards and laughable. They do do a good job of keeping wallstreet happy but not their workers. The ultimate result of this idiocy will be war in the US like that occurring in Syria and the Ukraine today. This war is preventable if Greenspan can see the light and change his statements. Just read history books, and look at what he is doing.... Its obvious.

  127. Re:Need for long-term view of society by cyber-vandal · · Score: 1

    Training courses cost money. What if you don't have the spare money to pay for them?

  128. The uber rich by Anonymous Coward · · Score: 0

    It was bad enough Greenspan led us into the last recession. Now he wants to lower wages on the middle class and increase profits for the rich by increasing H1Bs. What an utter fool. Note to Greenspan, when people talk about inequality, that includes the uber rich.

  129. Underwear Gnome logic by GameboyRMH · · Score: 1

    1. Bring in more cheap foreign labor
    2. Profit!
    3. ???
    4. Reduced inequality. For reals you guys, I promise.

    --
    "When information is power, privacy is freedom" - Jah-Wren Ryel
  130. Consequences of raising wages by sjbe · · Score: 1

    If you offered $1M/yr to anybody willing to pick oranges you'd have no trouble filling the jobs

    Sure you would because there would be no company able to make an economic profit selling them. No profit = no company = no jobs. This piece of your argument is a strawman.

    If you offer $5/hr then nobody is willing to do the job, apparently.

    Probably true in most of the US at least. Wages have to be high enough to allow people to pay for necessities of life in the location they live in. However labor costs in Mexico for picking produce are close to $4/DAY so it clearly is not true everywhere.

    Chances are if you offered $10-20/hr you'd have no trouble filling the post.

    The average wages of a field worker in the US in 2009 was $10.07/hour. (The linked article's conclusions are badly flawed as I'll detail below but the data on wages appears to be close to accurate)

    The price of oranges probably wouldn't change much at all - if they could get a penny more for them they already would be doing so.

    The price certainly would change if by some means the price of labor went up across the board. However given that these are globally traded commodities we are talking about (you can get oranges from outside the US), it's kind of a moot discussion. Even if we established a higher minimum wage within the US, significant production would simply move to where labor prices are lower. Not all, but significant amounts. This creates a de-facto cap on the price of food products. The cost cannot simply be passed on to consumers even if the consumers were willing to pay more, which they demonstrably are not. (See Walmart) You can place trade barriers but then you are increasing the cost of living for everyone to protect the jobs of a very small group of people.

    he guys who own the farm would just make less money.

    You are incorrectly presuming several things including that the farm is profitable and that farmers who are profitable are making large profits. Not typically true. Farming is a HARD business that frequently is not profitable and even in the best of circumstances tends to have modest profit margins.

    The best data I've been able to get indicates that if you buy an orange for $1, about $0.30 of revenue goes to the owner of the farm and about $0.10 goes to the worker who actually picked the fruit. (Labor costs make up 42% of variable production costs.) The remaining $0.60 goes to the distribution network and various other players including grocery stores. Now that doesn't say anything about profit, just revenue. The farmer has a LOT of cost to their operation so the profits after expenses are negative profit margins for about 2/3 of farms, especially among smaller farms. That means they have zero ability to raise wages - they are already losing money. Bigger farms are more likely to achieve profits and even higher net margins (often >20%) but the profit picture varies wildly by farm. But even among the profitable farms the farmer gets to keep somewhere between $0.02 and $0.07 of the $1.00 you spent on that orange. Many don't get to keep any profit at all.

    So, bottom line, if you raise wages by 50% ($0.05 on that $1.00 orange) you will essentially wipe out almost all profit in farming. I'm all for paying higher wages if we can but it isn't as easy as many are making it out to be.

    1. Re:Consequences of raising wages by Gr8Apes · · Score: 1

      So the answer there is to tax imports to even them out for unfair wage discrepancies. Seems easy enough.

      --
      The cesspool just got a check and balance.
    2. Re:Consequences of raising wages by drinkypoo · · Score: 1

      Wages have to be high enough to allow people to pay for necessities of life in the location they live in. However labor costs in Mexico for picking produce are close to $4/DAY so it clearly is not true everywhere.

      Have you seen Mexico? Parts of it look just like here. And then there's parts that you can't see the like of anywhere in this country without visiting a reservation. Is that what you want for the US? Because otherwise, it's hard to see why you'd bring it up. Even in Mexico, living on $4/day is nontrivial and you're going to have limited opportunities for betterment.

      --
      "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
    3. Re:Consequences of raising wages by Rich0 · · Score: 1

      So the answer there is to tax imports to even them out for unfair wage discrepancies. Seems easy enough.

      Sort of. I don't think that tariffs should be applied for the purpose of evening out wage differences.

      I DO think tariffs should be applied for the purpose of evening out the impact of social policies like worker protection, healthcare, social security, welfare, and also for environmental controls. To the degree that a country matches US benefits in all of those categories trade should be free. To the degree that it does not, the tariff should reflect the cost of providing that service.

      Otherwise it becomes a race for the bottom. And yes, I realize this would mean tariffs on US goods going into Europe, though certainly not as much as for Asian goods going into Europe.

    4. Re:Consequences of raising wages by sjbe · · Score: 1

      Have you seen Mexico? Parts of it look just like here

      Not only have I seen Mexico I've spent considerable time there working. I've been everywhere from Monterrey to Mexico city and everywhere in between. You are correct that much of Mexico looks every bit as modern and nice as much of the USA. Most people in the US have an incredibly wrong mental image of what Mexico is like. It's a modern vibrant country. It also has in some places some crushing poverty that they've not been able to escape. Workers from Mexico don't come to the US because there is an abundance of economic opportunity at home. They need jobs and the pay is FAR better here, even accounting for the risks of immigrating illegally.

      Is that what you want for the US? Because otherwise, it's hard to see why you'd bring it up.

      Where did I even hint that I wanted low wages for the US? The fact is that wages in Mexico are considerably lower than they are in the US, in some cases considerably so. This is merely a fact, not a judgement. My company is a manufacturing company and we have to factor in the lower wages in Mexico (and other places) when quoting. Labor intensive work will tend to migrate to where labor costs are lower. Labor costs in the US are relatively high, even for jobs like picking crops, compared to other parts of the world. Make them higher and some amount of the production will migrate elsewhere like an osmotic gradient.

    5. Re:Consequences of raising wages by sjbe · · Score: 1

      I DO think tariffs should be applied for the purpose of evening out the impact of social policies like worker protection, healthcare, social security, welfare, and also for environmental controls.

      Tariffs are rarely one way. If you put tariffs in place on incoming goods where you aren't as competitive then odds are your exports will experience tariffs as well. You end up robbing Peter to pay Paul so to speak and costing yourself a lot in red tape and lost wages along the way. It also makes goods more expensive for consumers, makes it harder for domestic companies to compete, slows hiring and slows economic growth. Furthermore applying tariffs based on social values is a dangerous game of cultural hypocrisy. In the US we have millions of people without health insurance and we're one of the two biggest polluters in the world. Are we really in a position to tell others that they should be like us when we don't have our own shit together?

      I appreciate the intent of what you are suggesting but it's simply not that easy. A lot of the advantage places like China have is due to the lack of pollution controls and other regulations. But the only thing that really is going to fix that is if they Chinese decide it is important to clean up their own mess.

    6. Re:Consequences of raising wages by Rich0 · · Score: 1

      If you put tariffs in place on incoming goods where you aren't as competitive then odds are your exports will experience tariffs as well. You end up robbing Peter to pay Paul so to speak and costing yourself a lot in red tape and lost wages along the way.

      So, you sell to the domestic market.

      It also makes goods more expensive for consumers, makes it harder for domestic companies to compete, slows hiring and slows economic growth.

      How does having the cheapest products on the store shelves make it harder for domestic companies to compete? What makes it hard for domestic companies to compete is having to actually capture or avoid waste instead of dumping it in the local creek.

      Furthermore applying tariffs based on social values is a dangerous game of cultural hypocrisy. In the US we have millions of people without health insurance and we're one of the two biggest polluters in the world. Are we really in a position to tell others that they should be like us when we don't have our own shit together?

      So, let's get our shit together then. We'll never do it if we let companies just move all the jobs offshore anytime we raise taxes to pay for all that health insurance.

      I also said that we should apply tariffs to countries that did not have a similar level of worker protections/etc. If the US wants to be free-market with insurance then we shouldn't expect other countries to behave differently. Of course, the Europeans will certainly tariff our products, and rightly so. Just gives us more incentive to get our acts together.

      A lot of the advantage places like China have is due to the lack of pollution controls and other regulations. But the only thing that really is going to fix that is if they Chinese decide it is important to clean up their own mess.

      We get to deal with their pollution as well, granted it isn't quite as bad over here.

      The problem is that we won't be able to afford clean air for long if we kill off every company that actually does the right thing. Companies that respect the environment are ALWAYS going to be at a competitive disadvantage compared to those who do not. Ditto for companies that pay employees a living wage, or maintain safe workplaces. We don't have to live like we're in the dawn of the industrial revolution - we just need to create the regulatory environment we want to live in, and then apply tariffs to countries that don't do the same. The goal isn't to punish them - simply to equalize the playing field.

      If China doesn't want to buy our toys, then sell them to the Europeans. If they're smart they'll do the same thing. Anybody who doesn't want to be in a race for the bottom should adopt this strategy - there are plenty of countries to trade with who have progressive values.

    7. Re:Consequences of raising wages by Gr8Apes · · Score: 1

      Exactly, there is also the perceptual problem that tariffs are solely punitive or protectionism, when in fact their main use should be leveling the playing field and providing a source of revenue to the federal government.

      Some will argue that the first item, leveling the playing field, is "protectionism". It is not in the sense that it will ensure domestic production, what it does do is ensure that there is no unfair advantage due to not having to abide by pollution controls or worker safety, for instance. Granted, it could easily be bent to protectionism, by just bumping it up another few percent, ensuring domestic profitability, which is probably a closer true definition of protectionism. Note that in some cases, such as textiles, there are no domestic industries, so there would be no case for protectionism. The tariffs would still be applied.

      The second item is something that should be applied across the board, as a percentage of value. The purpose here is to ensure that the fed gets its share of revenue that it would otherwise have gotten from income taxes. As for the argument that exports already taxed, you'd be correct and you'd also note that the huge trade deficit means this is a net negative. Why should the government not gain it on imports? If you think that this doesn't happen elsewhere, you're mistaken. Europe as a whole applies VAT, which adds 20% on average. I'd propose that 20% as a starting import tariff across the boards. It'd do a lot for the federal deficit, not to mention boost domestic production. Yes, cheap imports would go up 20%. That's sort of the point to avoid a race to the bottom.

      --
      The cesspool just got a check and balance.
    8. Re:Consequences of raising wages by Rich0 · · Score: 1

      Good points - I agree that uniform import tariffs that simply equal the taxation on domestic production shouldn't be considered protectionist in nature.

    9. Re:Consequences of raising wages by FirephoxRising · · Score: 1

      No, I agree with rich0, it must be a level playing field, China gets to do things much cheaper than developed nations, so tariffs can be applied for their poor worker conditions and pollution. We are not willing to do what they do, so they shouldn't reap the benefits of cheap and dirty production. We should also carbon tax the hell out of their products as they get here on terribly polluting ships. Yes prices may rise, but at least more people would have decent jobs.

  131. Do you speak Cherokee? by sjbe · · Score: 1

    I hear complaints all the time from a friend of mine who is himself an immigrant and always sees patients who are birthright citizens, which he commonly complains about because he had to go through hell to get here the normal way.)

    "Normal way"? Do you speak Cherokee by any chance? This is a country that was founded by and is composed of people who immigrated here without asking the existing residents their opinion on the matter. Anyone who complains about it now is pretty much a hypocrite because most of us have ancestors that came here without asking permission.

    That is also ignoring acts of terror:

    Which has nothing whatsoever to do with immigration and everything to do with drug cartels. Got any other BS arguments you'd care to make?

    Anyways I don't really view it as my problem. I intend on expatriating myself...

    Please hurry up and do so.

    1. Re:Do you speak Cherokee? by AlphaWolf_HK · · Score: 1

      "Normal way"? Do you speak Cherokee by any chance? This is a country that was founded by and is composed of people who immigrated here without asking the existing residents their opinion on the matter. Anyone who complains about it now is pretty much a hypocrite because most of us have ancestors that came here without asking permission.

      He's from India, first generation. I'd like to hear about which of his ancestors came here without asking permission.

      Go on, tell me.

      --
      Careful with names containing L slashdot.org/~AiphaWolf_HK slashdot.org/~AlphaWoif_HK slashdot.org/~AiphaWoif_HK
  132. Re:Need for long-term view of society by gtall · · Score: 1

    Gates predicting anything ought to cast a cloud over the anything.

  133. Re:Need for long-term view of society by Shadow99_1 · · Score: 1

    That has actually been the case locally. Where I live their has certainly not been any 'recovery' and the cases of violent crime, assaults, and theft have sky rocketed.

    Jobs have been steadily dissapearing in my area and the last big corporation (GE transportation services) is planning to 'significantly reduce' it's workforce and move production elsewhere. Some 300,000 odd people live in the city here and easily another 200,000 in areas around here. A ever growing number no longer have jobs and work is becoming increasingly scarce. When you cannot legally afford food for yourself or your family your going to turn to means illegal to do so.

    'Retraining' is typically a myth. My state will 'help' dislocated workers by funding a 2 year program (usually an associates degree) which no longer gets you a decent job with the glut of bachelors degree holders. Most businesses (not talking IT here) don't care if you personally know XYZ skill they want, if you don't have someone else (school, another business, etc) willing to say 'yeah he knows XYZ' then they won't even look at you.

    --
    we are all invisible unless we choose otherwise
  134. Gates is right, Greenspan said what?! by Kimomaru · · Score: 1

    Let's face it, everyone has a list of things in the world that they'd like to see made better with automation. Coffee Barista not getting your drink fast enough? Briggo has you covered (http://www.slate.com/articles/technology/future_tense/2013/10/briggo_coffee_robot_should_starbucks_replace_baristas_with_machines.html) . Are troop deployments in the middle east exacting a heavy human toll on your Armed Forces? Withdraw troops and send in the drones (http://www.theguardian.com/world/2013/apr/25/uk-controlling-drones-afghanistan-britain). Haven't we always done this? Didn't we replace horses and buggies with the Model T? It's standard operating procedure. Gates is totally right; at this point in our societal evolution, it's almost inevitable that people are going to be left behind because programming and tinkering is just not engaging for them (much as I wish this were not the case at all). Some folks are just not intellectually curious about technology and what it can do - it's not easy to convince everyone to become engineers or programmers and even most of the ones we have today aren't really all that great at what they do.

    Why is anyone still listening to Alan Greenspan? Didn't his anti-regulation, hands-off policies almost steer the American Economy off a cliff just a few years ago? For heaven's sakes, he went before the House Oversight Committee in 2008 and did a mea culpa of all things (http://online.wsj.com/news/articles/SB122476545437862295). I'm desperate to know who honestly wants to hear him give advice on economics.

    1. Re:Gates is right, Greenspan said what?! by plopez · · Score: 1

      "Withdraw troops and send in the mercenaries"

      fixed that for you

      --
      putting the 'B' in LGBTQ+
  135. banning student loans or make them income based by Joe_Dragon · · Score: 1

    start banning student loans or make them income based for 20 years MAX.

    and with income based you have to make say at least X2-X3 min wage (full time base) to have to start paying.

  136. Comment removed by account_deleted · · Score: 1

    Comment removed based on user account deletion

  137. I'm really glad... by Anonymous Coward · · Score: 0

    ...that douche-bag no longer holds the office.

  138. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Alternate economic systems have been attempted, even at large scale, without much success.

    Actually, we did succeed. What gets called capitalism today is significantly different from capitalism 150 years ago. For better or worse, we did move beyond capitalism.

    We call what we have capitalism (or the closest thing to it) mostly for marketing reasons.

  139. Wait.. did I read that wrong by kelemvor4 · · Score: 1

    He wants to fix income inequality by reducing the income of the middle class? I must be missing something important.

  140. Re:Need for long-term view of society by Curunir_wolf · · Score: 1

    How does this "true communism" you speak of differ from the one that's been tried, and has failed over and over and over?

    People make this claim all the time, but true communism is really very nice, but breaks down when the communist society grows to more than about 100-150 members. Capitalism scales up much better, but of course people look at the fascistic, heavily interventionist system used in the US today and think it's an example of "failed capitalism". Of course it's not capitalism at all, but in fact has the same issues that Communist Russia did - people at the top controlling everything, and distribution of resources is based on friendships and political alliances instead of the economic system that is supposed to be doing the allocation.

    --
    "Somebody has to do something. It's just incredibly pathetic it has to be us."
    --- Jerry Garcia
  141. don't be poor by schlachter · · Score: 1

    is so relative...when IT people making $100K/yr are just getting by...despite being in the top 10% of earners, it's amazing to me that most people are dealing with less.

    --
    My God can beat up your God. Just kidding...don't take offense. I know there's no God.
  142. Inequality as a solution the impeding collapse by kenj123 · · Score: 1

    Sometimes I think that the income inequality is being implemented actively as a policy to reduce green house gas emissions. make the middle class a poor as possible to reduce their consumption load. I would be curious to see a chart of the carbon footprints of the different income groups in the usa vs their economic output. An alternate theory is that maybe they know that there is a coming economic collapse and the wealth might as well be concentrated. I think there was a story written about survivors on a life raft where they had to kill some people early on because they knew there was no rescue and they were dependent on the ocean current to get them to land but it would take several weeks. that way supplies would last long enough for the few that did eventually did make it to land. With the wealth concentrated in a few, they can preserve a spark of civilization so when the dark times are over, they can teach the survivors that is wrong to eat human flesh, how to use a fork, and what wines go with which food.

  143. Bzzzt Wrong. by Anonymous Coward · · Score: 0

    One of my best friends is an anchor baby and was planned as one from the beginning some 30 years back. That problem is real and you're delusional if you think that's not still happening.

  144. Re:So he caused the last couple of financial crisi by jeff4747 · · Score: 1

    Start?

    Have you been in a coma the last 20 years?

  145. innovation is not a commodity by Anonymous Coward · · Score: 0

    If you have to import your innovation it isn't actually yours.

  146. Re:Need for long-term view of society by phantomfive · · Score: 1

    "Communism can only function when there is enough stuff that no one has to work to have their wants fulfilled." That's an interesting thought, anyway.

    --
    "First they came for the slanderers and i said nothing."
  147. Re:Need for long-term view of society by Scottingham · · Score: 1

    The only potential solution I can think of is what some have called 'Computational Socialism'.

    The way I see it, all power corrupts and that the government's role should be to provide for its citizens. If we accept the tenet that all power corrupts then we should make every attempt possible at removing people from the equation in government. The vast majority of functions a government makes are mechanistic and often require so many variables that no person could make a logical decision. These should be governed by algorithms that are clear and open source. Decisions made by the algorithm also provide 'proofs' for how the policy was created. It is the people's job to check and verify the proofs and use them as a basis for arguments one way or the other. Tweaking of the algorithms should be evidence based and with public support.

    Get people out of government!

  148. deflation is easy by Anonymous Coward · · Score: 0

    just print a lot more money and pump it in system, you could even use opportunity to buy some undervalued resources/buildings/whatever in name of goverment

  149. David Brooks???!! by Anonymous Coward · · Score: 0

    David Brooks conservative?! LOL, are you serious? I don't give a crap what he calls himself. That man is no conservative.

    Income inequality is irrelevant. Income is irrelevant unless if it compared against expenses in terms of buying power. Who cares what the top 1% make. BTW that is 3.12 Millions Americans and includes those making $250,000 year or more. Many of them small businesses that business AGI passes through the persons 1040. Love that top 1% line, shows that most people suck at math.

    Who gives a rats ass about the super rich? Some are good and some are bad. Quit whining and do something about your own economic affairs and quit worrying about others.

    1. Re:David Brooks???!! by drinkypoo · · Score: 1

      Who gives a rats ass about the super rich? Some are good and some are bad. Quit whining and do something about your own economic affairs and quit worrying about others.

      And this is where you were revealed as a troll, since we all know that the economic actions of the super-rich have direct effects on the rest of us. Their insistence that they have the majority of the pie, far more than they could ever eat, leaves little for anyone else and in fact leads to reduced pie creation.

      --
      "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
  150. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    We do have the resources to feed, clothe and shelter everyone on this planet.

    And after we've redistributed all of that to everyone on the planet, what incentive is left to keep producing so much?

    I think it's time to start talking about moving past a capitalistic economy.

    Because we didn't start talking in 1917, and didn't talk about it again in 1991. Right? No worse problems introduced here!

    How about you guys figure out a way to make a democracy that doesn't devolve into corporatism, and then we'll talk about giving democracy more power.

  151. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Yet this would absolutely have been called AI 20 years ago.

  152. Re:Need for long-term view of society by JesseMcDonald · · Score: 1

    Sure, that sounds like it would work just fine, as long as you couple it with a reasonable set of individual rights to protect against tyranny of the majority. People would get a voice (ideally a veto right) regarding any decisions which negatively affect them, and the freedom to act as they wish otherwise. This system even has a name already: capitalism.

    --
    "The state is that great fiction by which everyone tries to live at the expense of everyone else." - Bastiat
  153. We only hear *one* side of this discussion by walterbyrd · · Score: 1

    Of course Gates, and his laptop, are going to spew the same old propaganda. That is only to be expected.

    The shame is: STEM workers have no voice, no place at the table.

    The public can hear *one* side of this discussion, and that's it.

    Lou Dobbs was one of the few reporters who had anything to say about the massive abuses of visa workers, and illegal immigrants; now he has totally sold out to Fox news.

    If STEM workers want to save their careers, they need to organize, raise money, lobby, and speak out.

  154. Re:Greenspan wants to eliminate the skills premium by Curunir_wolf · · Score: 1

    When he talks about eliminating inequality by bringing the top down, he doesn't mean bringing down the 1%ers like himself and Gates. He's talking about bringing down all the skilled workers in the top 5-10% down to the level of unskilled workers. This doesn't actually reduce income inequality (it actually makes it worse), so he's full of crap. This has long been Greenspan's desire; it annoys him to no end that people who do things can aspire to salaries as high as lower-level banksters.

    Exactly - this is the hidden progressive agenda in the entire "income equality" meme, to get rid of the middle class. Think of every effort supported in the past 40 years that was an attempt to get the very wealthy to pay more of their "fair share". In the end, what gets implemented always makes the middle class worse off, and doesn't really affect the very wealthy at all. The latest was the attempt to "go after" all those fat cats supposedly hiding their money in tax havens overseas. Google is still using the Bahamas to retain their fortunes, and so are many others. But the laws they passed have certainly screwed over the middle class workers. Again.

    People need to stop buying into this rhetoric that politicians are going to help the middle class. The middle class is the biggest threat to their power.

    --
    "Somebody has to do something. It's just incredibly pathetic it has to be us."
    --- Jerry Garcia
  155. Re:Need for long-term view of society by drinkypoo · · Score: 1

    "Communism can only function when there is enough stuff that no one has to work to have their wants fulfilled."

    That is a stupid, simplistic, and biased belief. In fact, many people want to work, and there is far more than enough for everyone on this planet, if only it is distributed more evenly. Nobody really has to work very hard in our modern world if certain things which shit on people's work are not done. But society is structured specifically to force or coerce people to keep running around on treadmills so that they don't run up and stick a torch or a pitchfork into a career criminal who's based their livelihood on abuse of others.

    --
    "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
  156. Re:Need for long-term view of society by JesseMcDonald · · Score: 1

    I doubt that outright communism will ever make sense, but I suspect that as technology advances the ideal economic model will probably be a lot closer to it than the capitalism of the past. What choice is there once technology advances to the point where there is no need to employ humans at all?

    Capitalism isn't about labor, it's about capital—of which the capacity for labor is but one example. The advanced technology you speak of is another form of capital. If anything, the emergence of more advanced forms of capital requires a more capitalistic form of economy. More people will need to become capitalists, owning and managing the machines which do the work, rather than trying to market their own labor.

    --
    "The state is that great fiction by which everyone tries to live at the expense of everyone else." - Bastiat
  157. Re:Greenspan wants to eliminate the skills premium by Anonymous Coward · · Score: 0

    Yes, those annoying progressives, destroying unions and worker protections so the rich can make more money.

  158. Re:Greenspan wants to eliminate the skills premium by Anonymous Coward · · Score: 0

    Yes, those annoying progressives, destroying unions and worker protections so the rich can make more money.

    What have they done for us lately?

  159. No problem by koan · · Score: 1

    These new systems and the newer AI's will use humans as their "work force" simply fit a human with a Google Glass like interface allowing the AI to use visual and auditory instructions to direct the human through a task.
    No more trade schools, no more education as they will be replaced with a simple icon set and spoken language..
    Humans have dexterity, mobility, and are cheap and plentiful, so with 8 - 9 billion people and no jobs, you get to have an AI tell you to clean up the parking lot and toilets of the 1%.

    --
    "If any question why we died, Tell them because our fathers lied."
  160. Re:Need for long-term view of society by locopuyo · · Score: 1, Interesting

    That number includes people that stay in homeless shelters, which any homeless person can do unless they get kicked out for violence or drugs. Even homeless people that are not staying in homeless shelters are obviously finding some sort of shelter. Otherwise they would be dying like crazy. Even so, the point is any homeless person can find a homeless shelter or some other place to stay for free.

    My original point in my response to the OP was that homeless people have all the basic needs they need to live even if they don't work or benefit society in any way. You could call them greedy for wanting more for doing nothing to benefit society. How much do they deserve for doing nothing?
    Those greedy capitalists provide some sort of benefit to someone to get more money. If those damn greedy capitalists didn't improve society so far with all their damn inventions and improvements to make life easier nearly everyone would be impoverished by today's definition. Several hundred years in the future the standard of the current a middle class American will be considered poverty level again because those damn greedy capitalists will figure out ways to improve life for money.

  161. In one generation by WhatHump · · Score: 1

    When I told my parents I was getting married, they painted an optimistic picture of my future: a happy family life, with my children growing up in a prosperous society. I believed it, because it seemed to be true. Now I have two teenage daughters and I advise them to not have children and prepare for a tough and frugal future. I believe it, because it seems to be true. How far we have fallen in one generation.

    --
    "Could be worse...could be raining." Igor
  162. Re:Need for long-term view of society by Rich0 · · Score: 1

    I doubt that outright communism will ever make sense, but I suspect that as technology advances the ideal economic model will probably be a lot closer to it than the capitalism of the past. What choice is there once technology advances to the point where there is no need to employ humans at all?

    Capitalism isn't about labor, it's about capital—of which the capacity for labor is but one example. The advanced technology you speak of is another form of capital. If anything, the emergence of more advanced forms of capital requires a more capitalistic form of economy. More people will need to become capitalists, owning and managing the machines which do the work, rather than trying to market their own labor.

    The problem with this logic is what happens if people DON'T end up owning capital. People who don't own capital and who aren't employable will simply starve to death in a society that rejects socialism and effectively prevents crime.

    Sure, people NEED to become owners of capital. However, if you walk up to the average poor person how does it help to explain to them that if they merely owned $500k worth of stock they could easily afford to live just above the poverty line on their capital gains and dividends?

    Communism is simply a system of government where everybody becomes an owner of capital by the virtue of being born.

  163. Re:Need for long-term view of society by Immerman · · Score: 1

    The idea has some potential, but I have two main reservations: First there's a great deal of the social experience which would seem to be extremely difficult if not impossible to codify algorithmically, and is thus intractable to computational analysis. The second is the old truism: To err is human, but to really %$#@! things up you need a computer.

    One of my own thoughts on the matter is what you might call transferable direct democracy - give every citizen an anonymous vote on each bill, etc, and the option to let their vote be cast by someone else if they choose to abstain (which I would assume would be the usual case for most people). You can then anonymously transfer your vote to your pastor, a teacher, or even that guy at the bar that always seems to have something insightful to say about whatever is being discussed. The transferees (aka representatives) then have the option to cast those votes, or transfer them to someone else - but unlike with their personal vote, the way they cast their "vote pool" will be public knowledge to mitigate recurring abuse. The result I believe would be a semi-hierarchical vote-transferring system, with votes getting increasingly concentrated onto individuals with broad direct or indirect support, granting the representatives with the broadest appeal substantial political power. Importantly though that power can be revoked at any moment if citizens decide to anonymously transfer their vote to someone more worthy, or vote personally on a particular bill. Such a system could even be implemented within the context of a political party within a more traditional government, essentially "remote controlling" the vote of a representative.

    The result would be a much-leveled political playing field where *anyone* can gather political power simply by convincing individuals to transfer their vote, rather than only being able to choose among those who've manged to secure enough political backing to get on the ballot, with others getting no power at all. It would also allow a much greater network of trust to flourish - each person can transfer their vote to someone they personally know and trust - Even assuming a miniscule fanout of about 10 supporters per representative, it's only ten steps to concentrate all the votes in the US into a single "consensus vote". And at each stage the representative's direct constituency is small enough that they can directly engage with the major "sub-representatives", discussing their desires and concerns, and those of the groups they represent. With a fanout of 30 or so such dialogs would still be pretty viable, and with only 6 steps between private citizens and nationwide consensus a viable nationwide discussion is potentially possible about really thorny issues.

    --
    --- Most topics have many sides worth arguing, allow me to take one opposite you.
  164. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    I don't think he mentioned the word 'communism' at all.

  165. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    If you went back to March 17,1964*, and sat down at the pub to have a drink with an average person on the street, or even the average person in the field, and asked them if they though a machine that listens to what you ask, searches the whole of human knowledge and can either provide you the answer, or a map to the location was intelligent, they would say yes. The problem is that we have better refined the question as it is being answered.

    * Do not attempt to time travel to 1964 unless you are a WASP. This may be really bad for your health.

  166. Greenspan is a moron by thetoadwarrior · · Score: 1

    How are H1-B visas going to have any effect on the uppoer tier of society? It will just continue the death of the middle class and we'll be left with a society where you either live like a king or in poverty. I'm sure that's what he wants but I can't believe no one wouldn't be able to see through his stupidity.

  167. Greenspan Lies by WillAffleckUW · · Score: 1

    Greenspan Lies.

    Analysis shows most H1-Bs are being used to outsource US jobs to contractors from India and China.

    The more worrying thing is they're now slurping up all the L1, L2, and other education waivers that real US universities and colleges need for real students just to employ wage farmers from other countries in America.

    (obviously my personal opinion)

    --
    -- Tigger warning: This post may contain tiggers! --
  168. Re:Need for long-term view of society by Agent0013 · · Score: 1

    The human brain isn't a random network of neurons that gets trained into adulthood. If you take two random people and give them the same stimulus, they're going to use the same regions of the brain to respond to it, generally speaking. The part of your brain that recognizes faces is the same as the part of my brain which does this (well, several parts most likely).

    There is some degree of flexibility around how it is wired as we grow, but if you have a stroke in the region of the brain that handles vision you're not suddenly going to regain your sight after 20 years of training and rewiring.

    And then you have the things we are still learning about how these parts of the brain are used. There was an article here an slashdot a week or two ago where someone made a device that creates sounds from the images taken from a camera. Blind people were learning to navigate around rooms and objects and even learning to recognize people with the sounds created. Anyway, the interesting part was the parts of the brain that were active in decoding the sounds was the vision parts of the brain. So even though the input was coming through the ears, the fact that it was being decoded into visual data meant that part of the brain gets activated. We don't understand how our brain does than yet, so it will probably be quite a while before AI is that flexible.

    --

    -- ssoorrrryy,, dduupplleexx sswwiittcchh oonn.. -Quote found on actual fortune cookie.
  169. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    In what language and on what planet does "Capitalistic" mean "Unfettered human cooperation"?

    http://media.merriamwebster.co...

  170. Re:Need for long-term view of society by bloodhawk · · Score: 1

    Where did I ever suggest it will never happen? I was merely responding to the ridiculous claims that we are just around the corner of true AI that mimics the human brain. I am sure we will get there eventually, it just won't be this decade or the next and quite possibly not for a few more after that.

  171. Re:Need for long-term view of society by JesseMcDonald · · Score: 1

    Sure, people NEED to become owners of capital. However, if you walk up to the average poor person how does it help to explain to them that if they merely owned $500k worth of stock they could easily afford to live just above the poverty line on their capital gains and dividends?

    For a start, if they understood that then they could start working toward it. Naturally, if they really have no capacity for earning money beyond the minimum needed to survive then they'll need help of some sort. Apart from that (rare) case, there is always some opportunity to set some savings aside. Over time, perhaps several generations, those savings add up. Also, the flip side of the technology-driven obsolescence of labor is dramatically lower prices. After all, the whole point of using machines is that they're cheaper than humans for the same tasks. That means you don't have to earn as much to support yourself.

    Communism is simply a system of government where everybody becomes an owner of capital by the virtue of being born.

    It's not quite that simple. Capital doesn't just magically appear for each new person, you know. It's a scarce resource, like anything else. If everyone is entitled to sufficient capital to sustain them simply by virtue of being born, then you have to somehow limit births to what you can accommodate out of surplus capital. People tend not to appreciate that sort of interference in their personal lives, which means some of them will want to leave. If they are prevented from leaving then you have an authoritarian dystopia. However, if you let them leave then your system is no longer universal; those who are born outside become second-class citizens from the commune's perspective. If those who leave happen to prosper more than the commune (which is historically likely) then more will leave and the commune will fade away. If not, you still have the problem that there are more people than your commune can support, so you can't just invite the extras back into the fold.

    A capitalist society will respect the rights of the communists living in it to join together for their own common good; the problem is more the reverse, as the communists, eschewing property rights among themselves, often fail to respect the property rights of those who choose not to join the commune. You're quite welcome to start up a commune along the lines of your ideal system of government, provided you accept its boundaries and don't force anyone to join (or stay). I think you'll find, however, that if you want it to last you'll have to impose some conditions; simply granting a full share to anyone born into the commune won't work over the long run for the same reason democracy stops working once enough people learn they can simply vote themselves money from the treasury. It's fine as long as you have enough people dedicated to the ideal of the commune and willing to put in the necessary extra effort voluntarily, but that never lasts.

    A co-op which guaranteed a basic income to its members out of capital gains and/or dividends on shared investments would be an interesting and practical experiment. I think it would be necessary to limit the induction of new members, however. If the system works it could be gradually expanded over time.

    --
    "The state is that great fiction by which everyone tries to live at the expense of everyone else." - Bastiat
  172. How about half the GDP as a "basic income"? by Paul+Fernhout · · Score: 1
    --
    A 21st century issue: the irony of technologies of abundance in the hands of those still thinking in terms of scarcity.
  173. H1-B usage by Anonymous Coward · · Score: 0

    A data point for you...
    http://www.networkworld.com/news/2014/031114-use-of-h-1b-alternative-279587.html

  174. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    I haven't heard so much silver-spoon, coddled rich nonsense since the last RNC. Nice job.

  175. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    So why is it that, under 'prosperous capitalism', toilet cleaners aren't paid much more than video game testers?

  176. Re:Need for long-term view of society by phantomfive · · Score: 1

    That is a stupid, simplistic, and biased belief. In fact, many people want to work, and there is far more than enough for everyone on this planet

    I'd like to see your reasoning that shows there are enough people that want to work to support those who don't want to work. Because I don't want to work (on things that society cares about, anyway), and I would want to even less if I were a garbage man. So why do you think there will be enough people supporting the rest voluntarily?

    But society is structured specifically to force or coerce people to keep running around on treadmills

    If that bothers you, retire, or have your hours reduced.

    --
    "First they came for the slanderers and i said nothing."
  177. Re:Need for long-term view of society by Rich0 · · Score: 1

    Well, part of me wonders if they're not "vision" parts of the brain so much as "visualization" parts of the brain.

    I know somebody who had a stroke and has a bunch of fairly specific impairments. The interesting thing is that the relationship between these impairments aren't ones you'd normally think of, but they make sense. For example, certain types of language deficiencies tend to also cause issues with short-term memory capacity. Aspects of processing language probably involve short-term memory, and one of the ways that you keep things in your short-term memory is to recite them to yourself in your head. So, a problem that makes it hard to communicate with others actually makes it hard to consciously think about things (in the sense of talking to yourself, or your deity).

    Read up on the wikipedia entry on the cerebellum some time. For a long time it was thought of as the motor/balance part of the brain. It seems more that it is the part of the brain that actually operates like all those classical neural networks do - supervised learning. It makes sense that balance is something that would benefit from this type of approach (sensors are inputs, muscle movements are outputs, train for signals that tend to result in stability). People with damage to this area can move, but lose balance/coordination. That makes sense - the voluntary control is there, but that unconscious network-based auto-correction isn't there. It is used in other functions as well.

    Part of me thinks that the brain is really just a collection of neural tissues where each region develops a particular structure, and then the connections between them are used to link areas such that particular tasks can be performed. Take a region that generates conscious movement, route it through the cerebellum, and the output is auto-stabilized conscious movement. During embryonic development some kind of fractal-like algorithm results in various parts of the brain having certain neural arrangements, and then the big picture of the brain is just linking them together. It is a bit like the "unix way" for grey matter - a little tar, a little awk, a few pipes, and you get something neat.

  178. Re:Need for long-term view of society by Rich0 · · Score: 1

    Sure, people NEED to become owners of capital. However, if you walk up to the average poor person how does it help to explain to them that if they merely owned $500k worth of stock they could easily afford to live just above the poverty line on their capital gains and dividends?

    For a start, if they understood that then they could start working toward it. Naturally, if they really have no capacity for earning money beyond the minimum needed to survive then they'll need help of some sort. Apart from that (rare) case, there is always some opportunity to set some savings aside. Over time, perhaps several generations, those savings add up. Also, the flip side of the technology-driven obsolescence of labor is dramatically lower prices. After all, the whole point of using machines is that they're cheaper than humans for the same tasks. That means you don't have to earn as much to support yourself.

    So, the argument is that you can eat if the previous three generations scraped enough away for you to afford food?

    Sure, food is cheap, but why would somebody who owns a farm bother to give you food if you have nothing at all to offer for it? He doesn't need your labor. Cheap food is still expensive if you have no money and no job.

    Communism is simply a system of government where everybody becomes an owner of capital by the virtue of being born.

    It's not quite that simple. Capital doesn't just magically appear for each new person, you know. It's a scarce resource, like anything else. If everyone is entitled to sufficient capital to sustain them simply by virtue of being born, then you have to somehow limit births to what you can accommodate out of surplus capital. People tend not to appreciate that sort of interference in their personal lives, which means some of them will want to leave. If they are prevented from leaving then you have an authoritarian dystopia. However, if you let them leave then your system is no longer universal; those who are born outside become second-class citizens from the commune's perspective. If those who leave happen to prosper more than the commune (which is historically likely) then more will leave and the commune will fade away. If not, you still have the problem that there are more people than your commune can support, so you can't just invite the extras back into the fold.

    Agree on all points. A communistic society probably cannot allow free reproduction or emigration and remain functional for all the reasons you cite.

    A capitalist society will respect the rights of the communists living in it to join together for their own common good; the problem is more the reverse, as the communists, eschewing property rights among themselves, often fail to respect the property rights of those who choose not to join the commune.

    As you've already pointed out, a commune cannot exist if people can choose to join it or not. That's the whole point of communism. If you are fairly skilled/etc then there is no incentive to join, and thus the commune fails since only those who cannot provide for themselves join.

    You're quite welcome to start up a commune along the lines of your ideal system of government, provided you accept its boundaries and don't force anyone to join (or stay).

    Thanks for your offer - you are clearly a generous man! :)

    A co-op which guaranteed a basic income to its members out of capital gains and/or dividends on shared investments would be an interesting and practical experiment. I think it would be necessary to limit the induction of new members, however. If the system works it could be gradually expanded over time.

    It would never work. Why would anybody who is productive agree to share part of their income with the rest of the co-op? They have no incentive to return the favor should the tables turn.

    Communism can really only exist if it is imposed at a societal level. That's why communist societies tend to be associated with atrocities - it takes a very authoritarian government to sustain communism for any period of time.

  179. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Exactly. It's much more macho (and socially acceptable) to threaten someone indirectly by supporting violent policies.

  180. Trash the H-1B program by Anonymous Coward · · Score: 0

    re: the sentence: Federal Reserve Chair Alan Greenspan believes one way to attack income inequity is to raise the H-1B cap.

    Perhaps he would like to be a part of one of the many families whose breadwinners are shoved out of jobs because American companies go abroad to hire folks -- often without even really bothering to look locally. That might give him a better idea of what out to be done with the H-1B visa program -- trash it.

  181. Re:Need for long-term view of society by JesseMcDonald · · Score: 1

    So, the argument is that you can eat if the previous three generations scraped enough away for you to afford food? ... Cheap food is still expensive if you have no money and no job.

    No, I'm assuming that even in a society technologically advanced enough that almost everything is done by machines, there will still be ways you can make yourself useful enough to someone to earn what you need to survive. If nothing else, you can always grow your own food, build your own shelter—it's not much, but with knowledge of modern science and access to cultivated seedstock you'd still have an advantage over most humans throughout history. Of course, we're talking about the bottom 0.01% here, under the assumption that they don't have any marketable skills whatsoever and can't rely on charity or salvage to get by, none of which seems very realistic to me.

    As you've already pointed out, a commune cannot exist if people can choose to join it or not. That's the whole point of communism. If you are fairly skilled/etc then there is no incentive to join, and thus the commune fails since only those who cannot provide for themselves join.

    It goes further than that. The commune has to do more than just force you to nominally join; it has to force you to contribute. Without, needless to say, offering positive incentives conditioned on your contribution, since that would go against the whole point of a commune. The commune essentially has to consider each individual's skills and labor property of the commune rather than the individual, with failure to contribute according to one's ability punishable as a form of theft from the commune. As I see it, a system where each individual is a slave to the group is no better than one with distinct slaves and masters.

    Communism can really only exist if it is imposed at a societal level. That's why communist societies tend to be associated with atrocities - it takes a very authoritarian government to sustain communism for any period of time.

    I'm glad to see that we're in agreement, then. I thought you were advocating a communist society.

    Why would anybody who is productive agree to share part of their income with the rest of the co-op? They have no incentive to return the favor should the tables turn.

    It wouldn't be up to them. The organization's charter would dictate its purpose as providing a basic income to as many people as it can afford, starting with those most in need, after targeting a particular rate of growth. A bit like a trust, really. The idea would be that you start with a some donated seed money, say $10M. That gets invested at a real return of, say, 7%. You want to target 6% growth, so that leaves 1% of $10M ($100k), which you split five ways to provide a basic income of $20k each for five individual members. Assuming conditions remain unchanged, after 25 years you could support up to 21 members. After a century, nearly 1700 members. After three centuries, 3.5 billion members. Of course, the real world won't be this tidy, and there is plenty of room for fine-tuning, but the basic principle seems sound.

    --
    "The state is that great fiction by which everyone tries to live at the expense of everyone else." - Bastiat
  182. Re:Greenspan's right -to the Guillotine by Anonymous Coward · · Score: 0

    What Alan G is smoking is very, very expensive and requires the rest of us to drudge for him -and his ilk.

    H1-b increases only depress the middle class and enrich the CEO class - as he well KNOWS! Off with his head...
    (I actually heard a VC say that he votes democratic just to stave of the revolution. Of with his head too...)

  183. Re:How? eat cake? by Anonymous Coward · · Score: 0

    "The peasants have no bread!"
    "Then let them eat cake!" -M. Antoinette

  184. gates is behind the curve again by Anonymous Coward · · Score: 0

    gates is behind the curve again on the obvious..

    i regularly automate manual processes done by humans that can be repeatedly done by machines, software and computer systems, cheaper, faster and more efficient. this has been ongoing since the dawn of time.

    be well mr. gates.. the path to heaven is paid with best intentions found in hell.

  185. Yawn... by terrywirth5 · · Score: 1

    Gates wants more charter schools and Greenspan has an epiphany.

  186. change the 40 hour work week by Anonymous Coward · · Score: 0

    30 hours per week = 25% more room for workers!

  187. Re:Need for long-term view of society by Anonymous Coward · · Score: 0

    Thanks for your shill post. I hope you recover from your Stockholm Syndrome someday.

  188. Re:Need for long-term view of society by Rich0 · · Score: 1

    So, the argument is that you can eat if the previous three generations scraped enough away for you to afford food? ... Cheap food is still expensive if you have no money and no job.

    No, I'm assuming that even in a society technologically advanced enough that almost everything is done by machines, there will still be ways you can make yourself useful enough to someone to earn what you need to survive. If nothing else, you can always grow your own food, build your own shelter—it's not much, but with knowledge of modern science and access to cultivated seedstock you'd still have an advantage over most humans throughout history.

    You can't grow food or build a shelter unless you have land to grow/build on. That is capital too.

    As you've already pointed out, a commune cannot exist if people can choose to join it or not. That's the whole point of communism. If you are fairly skilled/etc then there is no incentive to join, and thus the commune fails since only those who cannot provide for themselves join.

    It goes further than that. The commune has to do more than just force you to nominally join; it has to force you to contribute. Without, needless to say, offering positive incentives conditioned on your contribution, since that would go against the whole point of a commune. The commune essentially has to consider each individual's skills and labor property of the commune rather than the individual, with failure to contribute according to one's ability punishable as a form of theft from the commune.

    Agreed, though I don't think that a communist society must treat everybody COMPLETELY equally. You can have incentives to produce and still have what amounts to a communist society. Obviously there is a continuum between "pure" communism, EU-style socialism, and US-style socialism.

    As I see it, a system where each individual is a slave to the group is no better than one with distinct slaves and masters.

    Depends on who runs the group.

    Communism can really only exist if it is imposed at a societal level. That's why communist societies tend to be associated with atrocities - it takes a very authoritarian government to sustain communism for any period of time.

    I'm glad to see that we're in agreement, then. I thought you were advocating a communist society.

    Who says I'm not?

    That is unfortunately the crux of the problem. I think a US-style capitalist society is eventually going to progress to the point where everybody is slaves to a handful of super-wealthy, assuming that more than a handful of people are even allowed to live. On the other hand, communism requires totalitarianism, and totalitarian governments tend to turn into human meat grinders eventually (they're basically as good as the folks in charge - history tells us that dictators can sometimes be relatively benevolent but sooner or later you end up with a Stalin/Hitler/etc - rule by committee probably would help to moderate some of the negative extremes, but also the positive extremes as well and tends to result in lots of corruption).

    So, I think the next 100 years are likely to be a big mess any which way...

    Why would anybody who is productive agree to share part of their income with the rest of the co-op? They have no incentive to return the favor should the tables turn.

    It wouldn't be up to them. The organization's charter would dictate its purpose as providing a basic income to as many people as it can afford, starting with those most in need, after targeting a particular rate of growth. A bit like a trust, really. The idea would be that you start with a some donated seed money, say $10M. That gets invested at a real return of, say, 7%. You want to target 6% growth, so that leaves 1% of $10M ($100k), which you split

  189. Re:Solved It by jdschulteis · · Score: 1

    I can't be replaced because I write fiction for a living. In English. I can write up to 12,000 words a day.

    An AI capable of writing fiction that people would buy and read may well be less than 30 years away. Once it happens even James Patterson will play John Henry to the indefatigable writing automaton.

  190. The gap and what it means by fyngyrz · · Score: 1

    ...and none of that will change a darned thing. Tech will continue to slowly enrich the poor, and the rich will reap those same benefits, while using the output of the poor to create an ever-widening gap. In other words, the poor get richer slowly, the rich get richer really, really fast.

    Like any curve fed by human choices, the poor's enrichment in fine grain is a wiggly bastard, but look at the holdings of the US poor in 1700, 1800, 1900, and 2000 and tell me with a straight face there isn't a significant upward lift that is growing ever steeper. Do the same for the top tiers. Although the latter is hardly a curve... more like a vertical line. The top tier can own a spaceship, a submarine and a yacht as *toys*, it's beyond stunning where we are today. And in 2100? Can't even imagine it. In the meantime, the majority of the poor have shelter, refrigerators, tv's, cellphones, running water, streaming audio and video, nearly free entertainment, sanitation, computers, network access, ready access to all manner of comestibles, basic services from police and fire departments (although they're still screwed in court), immensely strong military protection, nice clothing... if you could show that to someone from 1700 and tell them that's a poor person's lot... their head would explode.

    --
    I've fallen off your lawn, and I can't get up.
    1. Re:The gap and what it means by Anonymous Coward · · Score: 0

      (note: note the same AC)

      look at the holdings of the US poor in 1700, 1800, 1900, and 2000 and tell me with a straight face there isn't a significant upward lift that is growing ever steeper.

      Upward lift doesn't just mean standard of living and owning nice things. You have to consider other things like social mobility.

      The poor in 1700, 1800, and 1900 had less stuff like TVs and cellphones, but they definitely had more social mobility than today's poor. That was the age of "rags to riches" stories.

      Well, maybe not 1700, since slavery was still popular back then. And that's the thing: you can even argue that a slave in 1700 had nicer stuff than a slave in ancient times. That doesn't say anything about all the other problems that come with slavery.

      Today's poor are stuck in perpetuate debt, struggling to keep up with inflation. Even the middle class is facing hardship, as more families need two people working full time instead of just one.

      Another example is education. The poor didn't get much schooling, but that didn't stop them from finding employment. Start at the bottom, pick up skills as they go, work their way up. Today, more and more entry level jobs require degrees, which the poor (or even lower middle class) cannot afford without going further into debt... debt which is harder and harder to pay off with the wages the poor tend to get.

      All those TVs and cellphones are nice things, but for most people, owning those things don't help them improve their lot in life. They're more comfortable and even happy, but you know what else makes people comfortable and happy? Bread and circuses. And that's what most people, not just poor people, have. They watch TV. They don't use TV to help them move upward. They have cellphones. They use it to check facebook and twitter. They're not the ones using social media to earn money and pull themselves out of poverty.

      And let's not get started if those poor people commit a felony in the US. You already know how it could ruin someone's job prospects.

    2. Re:The gap and what it means by fyngyrz · · Score: 1

      I said "upward lift" as it relates to curves measuring a quantity. I didn't say anything about happiness for either the rich or the poor (nor is it possible to do so... that's an extremely individual thing, and it isn't tied to much of anything. There are happy poor people,. and unhappy rich people.) I said "rich", as in Having Stuff, as opposed to being unable to Have Stuff. In no way was I saying the rich, the poor, or anyone in between was happy, or not. I said all this in such a way as to imply that being able to have stuff is in fact better than not having stuff, as is obvious with some things like food and shelter and sanitation, and not so obvious, but still just as true, when you can call an ambulance or firefighters, but usually don't need to. And that, I am quite comfortable saying.

      --
      I've fallen off your lawn, and I can't get up.
    3. Re:The gap and what it means by Anonymous Coward · · Score: 0

      My focus wasn't happiness either. When I mentioned happiness, I was acknowledging that having stuff is better than not having stuff, same thing as what you said.

      What I wanted to point out is that having stuff is not the only thing to look at when talking about "the gap and what it means"

      Slaves in the 1700s probably "had more stuff" than slaves in the ancient times.