Shift_from_Capital_to_Labor
Labor’s share of income is declining across countries; in the US, it fell from >63% in 2000 to <57% today. COVID accelerated this dislocation between labor and capital. The further the disconnect between labor and capital, the more resentment we see between them. GameStop was the greatest invasion of labor into capital since the Peasants’ Revolt – ... See more
John Luttig • Finance as culture
Economic opportunities for our avatars | Social Mobility in the Digital Age | L'Atelier
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There appears to have been a profound shift, beginning in the 1970s, from investment in technologies associated with the possibility of alternative futures to investment technologies that furthered labor discipline and social control
David Graeber • The Utopia of Rules: On Technology, Stupidity, and the Secret Joys of Bureaucracy
Working in a factory or corporation in a major city was something many individuals aspired to during the early 20th century for the economic prosperity relative to a more tenuous farming life. Yet, as we’ve seen, the limit has shifted. Economic growth has stalled both for society and for us as individuals. Because of the qualitative and structural
... See moreTaylor Pearson • The End of Jobs: Money, Meaning and Freedom Without the 9-to-5
The dynamic of capitalism, then, is not oriented toward solving the problem of unemployment, but actively benefits from the existence of unemployment. Moreover, under capitalism we cannot transform the negative value of unemployment into the positive value of free time to lead our lives, since our measure of value is labor time. Keynes’s claim—that
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