Rice on chessboards, lilys in ponds….
Great little post about how exponential growth happens
How we create wealth is also exponential.
Tools build more tools and better techniques lead to better technologies. As we build layer upon layer of capacity we can make more stuff faster and cheaper.
It started by someone making nails and a hammer before they could build a house. Now much of a house comes out of a factory.
So now there is plenty, abundance?
For some much more than others. There is a peculiar flow of wealth to a very few.
The main thing is the algorithm.
When stuff is made there is someone who clips the ticket. The ticket clippers then accumulate a little bit that suddenly is like the rice on the 64th square.
One person will own everything.
Obviously something gives. Wars. Redistribution etc. but the algorithm goes on.
So if it takes 200 years to create this amount of inequality what will it look like in five years.
Work it out:
surplus value = excess of value of product over value of inputs = s
value of inputs = constant capital (c) + variable capital (v) = c + v
total value of product = C’ = (c+v)+s
C’ – C = s