Given none of the supply chain and infrastructure to support mining and retrieval exists, it would need to be researched and constructed. That money would be invested in the market and flood down for tooling, manufacturing and manpower.
Once you have the rock, you’ll need to process it into usable materials.
Low price gold flooding the market may be bad short term, but there are processes that will benefit from cheap gold in manufacturing. The market will stabilize.
It is more than just magicing the rock to someone’s bank account in liquid currency. There is a lot of money they will have to put in up front before they would see a financial return.
In today’s age they’ll fill 95% of that supply chain with robots and automation. Even if it’s 40% less effective at retrieving the material, that will still probably result in better overall profit margins.
The one thing capitalism has proven to be excellent at innovating is wealth extraction. Giving more to one person in every way possible. By the time we have this infrastructure built blue color workers will be largely redundant.
It happened to my industry (broadcast television)
It happened to my father’s industry (animation)
It happened to my step father’s industry (biotech)
It happened to my brother’s industry (manufacturing)
My sister and brother in law just saw their industries stop receiving funding (librarian and environmental scientist)
Don’t count on new fields creating news jobs anymore. That’s the way of the old world.
Whatever benefits having more good would bring will only be given to the ultra wealthy who control that gold. Even if it brings the cost of phones down by 15% it won’t make a difference in how much the average person struggles. In fact, the resources consumed in retrieving and processing the gold will probably end up hurting most of our cost of living.
Given none of the supply chain and infrastructure to support mining and retrieval exists, it would need to be researched and constructed. That money would be invested in the market and flood down for tooling, manufacturing and manpower.
Once you have the rock, you’ll need to process it into usable materials.
Low price gold flooding the market may be bad short term, but there are processes that will benefit from cheap gold in manufacturing. The market will stabilize.
It is more than just magicing the rock to someone’s bank account in liquid currency. There is a lot of money they will have to put in up front before they would see a financial return.
In today’s age they’ll fill 95% of that supply chain with robots and automation. Even if it’s 40% less effective at retrieving the material, that will still probably result in better overall profit margins.
The one thing capitalism has proven to be excellent at innovating is wealth extraction. Giving more to one person in every way possible. By the time we have this infrastructure built blue color workers will be largely redundant.
It happened to my industry (broadcast television)
It happened to my father’s industry (animation)
It happened to my step father’s industry (biotech)
It happened to my brother’s industry (manufacturing)
My sister and brother in law just saw their industries stop receiving funding (librarian and environmental scientist)
Don’t count on new fields creating news jobs anymore. That’s the way of the old world.
Whatever benefits having more good would bring will only be given to the ultra wealthy who control that gold. Even if it brings the cost of phones down by 15% it won’t make a difference in how much the average person struggles. In fact, the resources consumed in retrieving and processing the gold will probably end up hurting most of our cost of living.
And where do you think the majority of the wealth is going to be concentrated? Or do you think everyone on Earth will magically become a billionaire?
But mining makes everyone rich, right? Right?