Ask Lemmy

I had a sociology professor (who was brilliant and enlightening) who said that the future of the economy was in services. That was in 1999 / 2000. Now we have subscription everything (with rampant price hikes) and software-as-a-service (SaaS) and the like. Companies / corporations get to get fat on this shift in the business model. Workers get shafted with Uber and such. Anyone with a 9-5 career is seeing the ever-present squeeze of the markets ("we must grow at all costs or we're dead") slowly turn in on them and reduce their prospects.

After the end of the Soviet Union, people talked about "the end of history." Wrong. This is the end. The beginning happened somewhere not very long in the past. We're still at the opening, however. It's only going to keep getting worse and worse as capitalism eats itself and the world. All the best times already happened (lucky boomers). Strap in. It's gonna be a hell of a ride (or a ride straight to hell).

We have worse wealth inequality than the golden age

In my experience, things are a bit similar in Austria, Europe. I had worked an internship in a software development company around 2016, and things were splendid. Everybody was in a good mood, and things seemed to move smoothly. One year later, in 2017, people were holding back a bit more.

I went there again in 2019, and it was okay. In 2020, the business closed.

I think the halt of economic growth is a global phenomenon. Throughout human history, there used to be three big waves of development:

• agricultural (farmers) - biochemical work
• industrial (machine operators and construction) - mechanical work
• information (IT) - electrical/information work

now, it seems to me, the economy is fully developed, and growth slows down. The only growth i foresee in the future will be the settlement of Mars (because mars can theoretically hold up to 1 billion people), and "cleaning up" on Earth (renewable energy).

Sweden. I'm sure some would disagree, but from my perspective, things here are more OK. Most people i know thats my age (35) with a degree (free tuition) earn more than their parents. Live in decent houses and can comfortably support family with 2 kids on like 1.5 salary.

Not as easy without an education, of course, but if you manage a stem degree, you will likely live a decent life.

The world was experiencing unprecedented economic growth for decades in the run up to the 2008 crash. Sure there were some rocky periods but the general trend was upwards and even in the 70s where there were problems with inflation new technologies were improving people's living standards all the time.

Now we have growth stagnating; raw materials and international trade becoming more expensive (existing sources becoming depleted, tarrifs); then finally technological gains are happening but for consumers. I'm not sure I've seen a big improvement since the original iPhone.

The killer thing I haven't mentioned yet is overcentralisation of economies in major cities/hubs. If you want the best possible job then you probably need to move to a megacity like London, Paris, New York, Sydney... but then a shortage of new housing in these places has pushed prices into the stratosphere. You better hope you have an economically active partner who has also landed their dream job in megacity! Oh and the inheritance required for a deposit on a flat.

Within countries that last problem can be tackled with better industrial strategies to some extent. Maybe grants and subsidies to open say biotech labs in more affordable parts of the country. In theory since we have increasingly become service based economies, or producers of e-goods like digital copies of videogames, this should also be possible by doubling down on remote jobs as a viable mode of working and possibly offering tax breaks/financial incentives to move to less populated areas. Here in Scotland if you want to be a primary/elementary school teacher on a remote island you can command a salary of ~2x what you would get on the mainland as part of a scheme to entice teachers to live in remote communities.

Americans are indoctrinated that you have to work for someone else to live, that you have to have a lot of nice things to look successful, that certain jobs are down the chain of the hierarchy, and that there is a hierarchy at all. Temporarily embarrassed millionaires and all that.

Brazil has been stuck for a number of years now, at the very least since 2016. Then again, Brazil being kinda shitty overall is just the average experience, our inequality has always been among the worst ranked in the world

No opinion on this as I’m an American, but as evidence I’d point out that ruling parties all over the world have been removed from power.