![]() ![]() As I endlessly point out, the ability to get returns from these innovations in our economy depends almost entirely on government-granted patent and copyright monopolies. This line is repeated endlessly in media outlets and academic circles with zero reflection. In this story, it just happened to turn out that the progress in areas like software, artificial intelligence, and biotechnology have made advanced skills in science and math more valuable and less-skilled physical labor less valuable. I realize that it is very convenient for people who are doing relatively well in the current economy to believe that it is just a result of the way that technology happened to develop. ![]() ![]() Sorry to get harsh on this, but after what we saw on January 6th, I am not in a mood for being polite. I will focus on the two simplest routes, which are often described as “technology” and “globalization.” In particular, I am referring to my standard complaint about the unwillingness to acknowledge the ways in which the economy has been structured to redistribute income upward. Many of our leading intellectuals and our major media outlets have similar difficulty dealing with reality when it doesn’t fit their conceptions of the world. I don’t have any easy answers to get these people to start thinking clearly, but I will point out that it is not just ignorant and/or crazed Trumpers who have trouble dealing with reality. Their willingness to insist an election was stolen, with no evidence whatsoever, is difficult to understand for those of who like to think that people respond to facts and logic. It’s hard not to be appalled and scared by the reality denial of Donald Trump’s followers.
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