J. -M. Kuczynski

The Actual Structure of the US Economy

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There are two economies: a fake one consisting entirely of fake jobs that are being automated away and only exist because of the usual tape-delays and bureaucratic malfeasance; and a real economy consisting of robots and the entrepreneurs who are deploying them. What economists are doing is hewed to a type of economy that ceased to exist 150 years ago. All it's about now is letting AI take its course and figuring out how to provide welfare to the already useless 90% of the population that is now given crypto-welfare in the form of expensive and destructive jobs as professors, lawyers, law-enforcement-agents, anger-management coaches, driver’s ed instructors, high school history teachers, and the like.
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Author's Republic


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