Earlier quoted context omitted.
> He's saying income inequality is a feature of technology allowing people to be paid their market value and that you can't 'fix' that. The thing that I worry about is whether this feature is destroying the conditions that allowed it to become a feature in the first place. He mentioned the example of Apple and IBM, which I see as illustrative in another way. Would personal computing devices have become popular in a h…
>He mentioned the example of Apple and IBM, And on that, as on so much else, he's more than a little wrong. Apple and Microsoft simply couldn't have happened without the mega-corps - not least HP, but also IBM, and Fairchild and its spin-offs - which only existed because of post-war military and civilian "socialist" state support for technology. By the mid-70s that support had been influencing economic policy for mor…
Companies like Apple do not happen in a pure deregulated neoliberal market paradise because markets don't have the kind of strategic intelligence that can fund projects like Whirlwind, TX-0, and the original Arpanet - all of which are essential steps on the road to making an Apple or a Google.
Going even further, corporations themselves do not happen in the absence of regulation, and I think that the granddaddy of entitlements -- liability limitation -- is necessary in order to gather enough capital to form great ventures like chip manufacturing.