Anthropic Capitalism and The New Gimmick Economy

Assuming that a suite of such anthropic arguments can be made rigorous, what will this mean? In the first place, we should expect that because there is as yet no known alternative to market capitalism, central banks and government agencies publishing official statistics will be under increased pressure to keep up the illusion that market capitalism is recovering by manipulating whatever dials can be turned by law or fiat, giving birth to an interim “gimmick economy”.

If you look at your news feed, you will notice that the economic news no already longer makes much sense in traditional terms. We have strong growth without wage increases. Using Orwellian terms like “Quantitative Easing” or “Troubled Asset Relief”, central banks print money and transfer wealth to avoid the market’s verdict. Advertising and privacy transfer (rather than user fees) have become the business model of last resort for the Internet corporate giants. Highly trained doctors squeezed between expert systems and no-frills providers are moving from secure professionals towards service sector-workers.

Capitalism and Communism which briefly resembled victor and vanquished, increasingly look more like Thelma and Louise; a tragic couple sent over the edge by forces beyond their control. What comes next is anyone’s guess and the world hangs in the balance.

Source: Edge.org

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