MIT Director Reveals 'The Best Economic News In Human History'

An MIT director and business expert has revealed “the best economic news in human history,” claiming that we're on the brink of the possibility of rising living standards for everyone on earth.
Andrew McAfee, the associate director of the Center for Digital Business at the MIT Sloan School of Management, said that technological progress means humanity will soon solve the problem of 'increasing scarcity', meaning that there are, in theory, enough goods and wages for everyone in the world.
"We’re going to solve that," he told an audience at the WorldPost Future Of Work Conference, "The problem that we’re not facing is a problem of not enough to go around."
McAfee said that the industrial revolution of the 19th century meant that for the first time, human productivity can keep pace with the growing population, creating the possibility of a rising standard of living for everyone.
We have nearly reached the peak of this bounty, in an "ever-growing pie that left people better off". Technological progress is "the best economic news in human history", he said.


http://www.huffingtonpost.co.uk/2015/03/05/andrew-mcafee-worldpost-future-of-work-mit_n_6806732.html?utm_hp_ref=uk

NOW IF ONLY we could get a few more multinational corporations and billionaires to pay even half of what would be a fair rate of taxation and charitable donations, that would also help things along merrily...

THEN THERE'S STILL those minor environmental and health issues, such as industrial pollution, deforestation and desertification, climate change, urban sprawl and housing (un)'affordability', decreasing 'fecundity' and increasing extinction risks; and such diseases as malaria, influenza, TB, heart diseases, various cancers, asthma and arthritis are still quite prevalent ~ they don't magically disappear simply because the economy improves..

AND WHILE we're all celebrating the possibility of this Brave New Economic Nirvana, let's not forget that less than 100 billionaire's supposedly currently control around 48% of the developed and developing world's economic 'wealth'.    

yeah accept every one but the 1% is poorer

he is right but a few rich evil people are ruining it

VIVA LA REVOLUTION

And will carry on ruining it while they are allowed to get away with it. Agree Veya, VIVA THE BLOODY REVOLUTION!

This is the guy that wrote a couple of years ago that human beings are losing the race for jobs to machines.

What that holds for the future I really don't know but it sounds like a lot of unemployment to me.

People have been conjecturing about a post-scarcity economy for decades, but I never have understood how we're supposed to get there in terms of resources. Is some technological breakthrough supposed to make us stop behaving like a hive of locusts?

Guy at the source article also points out that there's nothing stopping the wealthy from taking all the increased productivity. What will stop that?

LA REVOLUTION

fudge.....thought you were gonna say that he said that I won the mega millions lottery

guess I have to set the alarm tomorrow after all......

wage slave.....

darknessss wrote:wage slave.....

actually Vic I took a HUGE paycut and went part time to take on current job. I commute an hour to and from. by the time you take gas out I work for peanuts but the health benefits and retirement plan are very good and MOST importantly I absolutely LOVE my job and the current situation I'm in. I'm lucky cause not a lot of people can say that. Also in 8 years Mr. C and I can take early retirement - sell the house buy a smaller place get a 5th wheel and hit the roadfor most of the year. yeehaw

Cass wrote:

darknessss wrote:wage slave.....

actually Vic I took a HUGE paycut and went part time to take on current job. I commute an hour to and from. by the time you take gas out I work for peanuts but the health benefits and retirement plan are very good and MOST importantly I absolutely LOVE my job and the current situation I'm in. I'm lucky cause not a lot of people can say that. Also in 8 years Mr. C and I can take early retirement - sell the house buy a smaller place get a 5th wheel and hit the roadfor most of the year. yeehaw

Sounds perfect to me Cass x

Cass wrote:

darknessss wrote:wage slave.....

actually Vic I took a HUGE paycut and went part time to take on current job. I commute an hour to and from. by the time you take gas out I work for peanuts but the health benefits and retirement plan are very good and MOST importantly I absolutely LOVE my job and the current situation I'm in. I'm lucky cause not a lot of people can say that. Also in 8 years Mr. C and I can take early retirement - sell the house buy a smaller place get a 5th wheel and hit the roadfor most of the year. yeehaw

The wife and I always said wait 'til the kids grow up and are off our hands and we''ll be free as a bird. Somehow it didn't quite seem to work out that way as they had kids and it seems they're all here at some point more often than not - not that I'm complaining mind you.

Now I'm knackered