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Caleb Maupin — Technology & The Marxism of Jack Ma

Summary:
Technological innovation increases productivity, decreasing the need for human work and increasing the opportunity for leisure. It's a distribution issue. The problem is that under capitalism, gains are capitalized and losses are socialized. Under socialism, gains are socialized and losses are minimized. Who is going to win this race, those aiming at the top or those racing to the bottom?NEOTechnology & The Marxism of Jack Ma Caleb Maupin

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Technological innovation increases productivity, decreasing the need for human work and increasing the opportunity for leisure.

It's a distribution issue.

The problem is that under capitalism, gains are capitalized and losses are socialized.

Under socialism, gains are socialized and losses are minimized.

Who is going to win this race, those aiming at the top or those racing to the bottom?

NEO
Technology & The Marxism of Jack Ma

Caleb Maupin
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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