Will Cloud Computing Be To Labor What The Internet Was To Capital?
December 4, 2012
Grazed from CloudTweaks. Author: Robert Shaw.
In 1992, the CME Group launched the first electronic trading platform, which heralded a completely new age for anyone with capital to spare. Electronic trading and money transfers meant a whole new world of opportunity for potential investors.
In essence, the Internet freed wealthy (and even not-so-wealthy) investors to move their money wherever they wanted, whenever they wanted, at a negligible cost. The result has been hedge funds, day traders, a huge uptick in emerging market investments, and a veritable explosion of highly complex “financial instruments.” (Plus, grandpa gets to trade stocks at home.)…
And the ultimate effect? The past two decades have been a boon for capital (i.e. people with money to spare) but less than stellar for labor (people who work for a living). As evidence, take the United States: Median hourly wages (adjusted for inflation) have remained virtually flat since 1992, while the networth of the top 10% of households has grown from an inflation-adjusted average of $1.8 million to $4.2 million (a 133% increase)…
Read more from the source @ http://www.cloudtweaks.com/2012/12/will-cloud-computing-be-to-labor-what-the-internet-was-to-capital/