Re: Ageing recession warning

From: Randy Smith (
Date: Thu Aug 30 2001 - 17:45:42 MDT

>From: "J. R. Molloy" <>
>To: <>
>Subject: Re: Ageing recession warning
>Date: Thu, 30 Aug 2001 15:50:31 -0700
>From: "Robert J. Bradbury" <>
> > You don't need any "workers" if you can get
> > the robots/computers to do it all for you.
>That's right, and if you can get the robots/computers to do it all for you,
>then you can get the robots/computers to replace you.
>Rest in peace.

The real problem with the chances of A Bright Future, as envisioned by
Extropians, et al., is that you-all assume that since the free market is
driven to produce profits, and that the profits follow the superior
products, then the power of the unleashed free market will save us all by
developing AI, nanotech, etc. The problem with that scenario is that the
profits are not really the nirvana that they once were (you're living in the

Nowadays, investment capital seeks stock price increases primarily, and not
the finished product. The way they get stock price increases is by
producing some promising research, which gets into the news. Then the stock
prices go up, and profits are taken *there*, and not from the sale of the

The problem is that the promising research is often vaporware, or so far
from being reduced to practice that its utility is small. So, perhaps the
free market will save humanity, but probably only 200 yrs or so from
now....Following through on the research is too long term, either that or
the research is bogus or a dead end, etc...

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