X @Nick Szabo

Labor Market Dynamics - A population drop of one-third to one-half, exemplified by the Black Plague, historically led to labor scarcity and wage doubling [1] - Globalization over recent decades has had the opposite effect on wages compared to the Black Plague era [1] - Gold's real value in terms of labor purchased decreased by 50% during the Black Plague, but alternative investments were limited [1] Economic & Investment Outlook - Demographic trends are currently strong, but projecting them beyond a century is uncertain [2] - Productivity gains from AI may replace owner-benefiting gains from globalization [2]