Will people in the middle class ever evolve to become sophisticated investors or will they ultimately be replaced by AI?

Written by Ingemar Anderson with the help of GPT-3, an artificial intelligence model.

Technology has always helped to make the lives of the working class easier. This is a good thing because the working classes are working for the upper classes.

However, now that technology has advanced so far, the working classes might be taken over by it. This is a bad thing because the lower classes will end up having nothing.

The working class might never evolve to become capitalists because, today, they are not granted the same opportunities as those with money, those who learned how to create and manage capital. Capitalism can create inequality and those with money are not always willing to share it with those without, which is why they will eventually be replaced by AI.

So, the working class might not evolve to become capitalists because they could be replaced by AI. In Thomas Piketty's book, "Capital in the Twenty-First Century" he discusses if the working class might be replaced by capital. The book talks about the rise in the capital/labor ratio in the US and how the growth of the capital/labor ratio in the US increased at a higher rate than the growth of the GDP. This shows that the capital/labor ratio has been rising in the US because the workers are being replaced by robots. This can explain why the working class might never be able to ever become capitalists unless workers invest in their financial education.

Some say that the working class will never evolve into capitalists because AI is the future, and assume that the working class is not able to keep up with technological and societal changes. Chances are that the working class might slowly be replaced by AI altogether. This is because AI can produce goods and services more cheaply and quickly than a human can, and the capitalists are constantly looking for ways to take advantage of this for more profit.

Comments

Ten Rules of Financial Sophistication

"I don’t want a nation of thinkers. I want a nation of workers." —John D. Rockefeller Written by Ingemar Anderson with the help of GPT-3, an artificial intelligence model. I have developed ten rules to remind myself to stick to my investment strategy. Of course, the list is not complete, but it is a start. Please feel free to add your own rules at the end of this chapter that you feel should be used to manage any of the five asset classes money, securities, commodities, real estate, and businesses. 1. Never buy an asset above market price This first rule seems to be an obvious statement. However, I have seen too many times that investors end up paying too much for an asset. I do intensive research before I buy, I do my due diligence and always try to understand the seller to get a better deal. Paying cash will always be an incentive for the seller to sell quicker. 2. Focus on assets that create income By following only these first two rules, buying primarily as...

The Transition from Nation-Centered Capitalism to Human-Centered Capitalism

The transition will be extremely painful. Are you ready? https://www.iotforall.com/impact-of-artificial-intelligence-job-losses#:~:text=A%20two%2Dyear%20study%20from,the%20world's%20current%20human%20labor. www.ingemar-anderson.com The Rate of Change Ever since technological evolution started, the rate of improvement has been exponential. For example, Moore’s Law originated around 1970 and states that processor speeds or overall processing power for computers will double every two years. That is exponential growth, and it was proven correct for the past decades—even though the speed of processor improvement has slowed down somewhat in recent years due to technological limitations of materials used to make processors, growth on average is exponential over a longer time. Past technological improvements have taken many jobs, and many new job categories have been created. People were able to adapt, relearn new skills, and find new employment in areas that technology could not replac...

Top 10 Reasons Why People are Poor

Written by Ingemar Anderson with the help of GPT-3, an artificial intelligence model. There are many reasons people are poor. Some people are poor because of their circumstances. They may come from a broken home or may have parents who are not financially able to care for them. Some people may be poor because of their own choices. They may have made bad choices in the past, such as going on a spending spree. Here are the top 10 reasons we identified. -Lack of education- -Lack of skills- -Low-level jobs- -Low wages- -Bad luck- -Lack of knowledge- -Lack of money- -Lack of motivation- -Lack of resources- -Lack of opportunity- -Lack of supervision or guidance

The Wealth of Generations

Search This Blog