The Prof G Pod with Scott Galloway No Mercy / No Malice: Luddites
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Feb 4, 2023 Delve into the fascinating world of credit cards and how their bonuses impact personal finance decisions. Explore the historical tension between technological innovation and capitalism, shedding light on the fears that accompany advancements. Discover how automation and AI can disrupt job markets yet simultaneously drive job creation. The conversation emphasizes the need for proactive government support to help workers adapt, drawing parallels to the challenges of the Industrial Revolution.
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Capitalism, Innovation, and Job Growth
- Capitalism consistently transforms ambition and innovation into economic growth.
- This growth ultimately leads to more job opportunities, not fewer.
Queen Elizabeth I and the Knitting Machine
- Queen Elizabeth I rejected the stocking frame knitting machine, fearing job losses for her people.
- This highlights the historical fear of technology replacing human labor.
The Luddite Rebellion
- The Luddites, textile workers, attacked factories and destroyed machinery in protest against job displacement.
- Parliament responded by making machine-breaking a capital offense, demonstrating the clash between progress and social unrest.
