/biz/ - Business & Finance

>This is nicely illustrated by the example of William Lee, inventing the stocking frame knitting machine in 1589, hoping that it would relieve workers of hand-knitting. Seeking patent protection for his invention, he travelled to London where he had rented a building for his machine to be viewed by Queen Elizabeth I. To his disappointment, the Queen was more concerned with the employment impact of his invention and refused to grant him a patent, claiming that: “Thou aimest high, Master Lee. Consider thou what the invention could do to my poor subjects. It would assuredly bring to them ruin by depriving them of employment, thus making them beggars” (cited in Acemoglu and Robinson, 2012, p. 182f).

>Most likely the Queen’s concern was a manifestation of the hosiers’ guilds fear that the invention would make the skills of its artisan members obsolete.5 The guilds’ opposition was indeed so intense that William Lee had to leave Britain. That guilds systematically tried to weaken market forces as aggregators to maintain the technological status quo is persuasively argued by Kellenbenz (1974, p. 243), stating that “guilds defended the interests of their members against outsiders, and these included the inventors who, with their new equipment and techniques, threatened to disturb their members’ economic status.”

and the interesting part:

>“Unless all individuals accept the “verdict” of the market outcome, the decision whether to adopt an innovation is likely to be resisted by losers through non-market mechanism and political activism.” Workers can thus be expected to resist new technologies, insofar that they make their skills obsolete and irreversibly reduce their expected earnings.

tl;dr Boomercucks BTFO and confirmed for losers.

>>12148168
in the hospital and on /biz/.

>>12148205
look like this might have been the bottom
at the same time we have a thread about a suicidal ausfailian living in his car >>12146333

>>11384938
ah I get it article doesnt exist

cool story bro but no proofs

>>11384939
he wanted the annoying jews gone
good idea

>when he threw that roastie off the roof

>>11171554
Chainlink mainnet

>is the missing link to make (((their))) global identiy system a thing
>launches likely in october
>makes crypto actually useful

good OC OP

>>10995450
thats because you are an NPC, NPCs don't become sentient enough to figure out how trading works.
not blaming you tho, I guess if you have no soul (NPCs like you) then you can't really feel how wagecuckery grinds away your soul.

>>3653077
Its not too late to get into NEO and LINK. actually just now is the right time!
Go balls deep and buy right fucking now as much as you can.