We coasted along till about mid 1700.
Workers in England at least, worked on farms or share farmed, virtually the property of land owners.
Then came Industrialization, the machines age and Capitalism, all supported by credit, the ability to buy more than we could afford.
As we developed and those dreadful workers wanted more we changed.
Workers got better wages and living conditions.
Every one got higher living standards, new industry's and products came in to being ,to supply the new living standard.
Along comes my mate Rechtub, he has mates,maybe all great grand children of British land owners.
Unable to see the link wages/living standards/consumers = profits wages = consumers these folk want to Begin the cycle from scratch.
In cutting incomes Rechtub we cut consumerism/production/profits/ living standards.
Find some one young, at heart at least, sell out,in 5 years ask why?

At least Arnotts actually makes something the people can consume.What about the banking system that creates money from nothing to equal increases in our GDP + inflation and loans it to us as debt?

When Keating sold off the Commonwealth in 1995 Howard needed the GST to service private debt to the banks.Only sovereighn Govts should have the power to create new money.

So Arjay, would you like to deny banks the right to lend out money
which they borrow from depositers?

rehctub, the higher goals of automation were to liberate lower paid labor from the tedium of repetitive work.

I guess the concept of increasing the size of businesses, generating economic growth to develop new industries with higher paid and less manual labor was a great idea that most would support.

It seems that corporate greed kicked in and the only thing that grew was corporate profits.

I still can’t work out if the overall benefit has been to provide the national wealth to fund social development through growing industrialization, or if the balance has now tipped in favor of commerce and industrialization.

It’s like everything in life, once that balance is lost, social equity goes out the window.

The original concept was for man to use the “machine” to increase our standard of living rather than to compete with it. We can’t live with them and we can’t live without them, but overall I think those nations with automation based commerce and industrialization are better off than those without it.

Some might wish to go back to the horse and cart but I’m not one of them.

machines don't have soul, much like some of our top bureaucrats. btw. the battle's lost already for this generation. However, I can see a revival of common sense in the next generation when food gets scarce & people are getting fed-up with moron bureaucrats.
Common sense has to to come back , it's nature's law.

Yabby you know full well what I'm talking about.Depositor money should and can be loaned out.I'M talking about the new money created by the fractional reserve system to equal your GDP which the Commonwealth and 4 other Govt Banks used to create from nothing, keeping our taxes lower or providing infrastructure debt free.

Private Banks should not utter new currency.That is the job of sovereign Govts.No more obsfucation please.