The optimistic view is that our collective ingenuity will create so many things for people to do that are so attractive to the rich that they will pay through the nose for them and so recreate a middle-class society.For DeLong, a return to Feudalism seems to be a "good" outcome. Adam Smith described this in WoN.
Monday, March 31, 2014
First was Mark Thoma, second is Brad DeLong:
Posted by Steve J. at 12:13 AM