I absolutely share your concern about this, Clint. I just don’t pin this exclusively on the wealthy for two reasons, the first being that technological innovation typically leads to the displacement of workers in certain industries. The second is that there wouldn’t be much money to be made as an Uber driver if consumers, many of whom are middle/working class people themselves, were willing to take a stand.
I see a similar phenomenon at my local grocery store where they have several new self-checkout aisles. I always choose an aisle with an actual cashier + bagger precisely because I want them to be able to keep earning a living. But judging by the lines I see, it would appear I’m in the minority. So it’s difficult for me to fault companies that are moving more towards automation and other tech options that lead to the sorts of situations you just referenced.
We all know that job scarcity is going to become a big issue down the road. It’s inevitable, and it will likely exacerbate the class warfare issue to a degree not seen in decades. My fear is that it’s going to arrive sooner than most people are predicting though, and that we’re not going to have time to adapt to it.
As far as the recession goes, no disagreement from me. There are some very wealthy bankers who I believe should have done stints in prison for their roles in that whole mess. But of course, I would never contend that the wealthy are immune to corruption, selfishness and excessive greed. They are human like the rest of us, after all.