BAD HARDWARE WEEK

If productivity continued to increase by just a few percent every year, then through the miracle of compound interest we could be eight times better off in 2030 than we were in 1930. And, with that much wealth, we would finally be able to satisfy everyone’s basic needs.
The problem is that in this world the profits of robot labor would go only to the people who own the robots or who could think of innovative new ways to use them. Everyone else would make almost no money at all. Although we are obviously not at that point yet, Summers argued that we may already be 15-20% of the way there. Indeed, increasing automation may be part of the reason why, according to the Bureau of Labor Statistics, 3.5 million jobs U.S. manufacturing jobs disappeared in the last decade alone. The net result is that economic inequality is increasing just as we are finally beginning to have enough to provide for all of our citizens. The same technology that makes us rich as a society gives the people who control it the power to take home a larger and larger share of our income.
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99% BAD HARDWARE WEEK: Now, will we all stay only in basic needs until 2030? Like Russians in 1930ies?