Labour and capital: update
Labour and capital: update
Folks,
An article by Eduardo Porter in the NYT (27/4/14) gives us this:
“In the United States, the share of national income that goes to workers is at its lowest level since the 1950s, and corporate profits take the largest share of national income since the 1920s.”
Of course, we have seen this process accelerating for many decades, not just in the US but elsewhere in the developed world. The interesting question is - why?
Porter suggests the usual suspects: technological advances, weakening union power, erosion of minimum wage, dwindling natural resources, lack of good business ideas and the rise of rewards to inherited wealth.
It’s a hard one. Looking at causes for long term trends is never easy, and I am inclined to think that there is a deep driver of this process, rather than a basket of likely causes.
What might it be?
Alex.
An article by Eduardo Porter in the NYT (27/4/14) gives us this:
“In the United States, the share of national income that goes to workers is at its lowest level since the 1950s, and corporate profits take the largest share of national income since the 1920s.”
Of course, we have seen this process accelerating for many decades, not just in the US but elsewhere in the developed world. The interesting question is - why?
Porter suggests the usual suspects: technological advances, weakening union power, erosion of minimum wage, dwindling natural resources, lack of good business ideas and the rise of rewards to inherited wealth.
It’s a hard one. Looking at causes for long term trends is never easy, and I am inclined to think that there is a deep driver of this process, rather than a basket of likely causes.
What might it be?
Alex.
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Re: Labour and capital: update
obama, STPN, the Democrat Party, liberalism, progressivism, leftism. Plain as the nose on ones face.
Current polling indicates that is how America is beginning to feel. I look forward to a GOP wave.
Current polling indicates that is how America is beginning to feel. I look forward to a GOP wave.
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- Zack Morris
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Re: Labour and capital: update
manolo: a combination of automation, labor wage arbitrage, and meritocratic power structures have made this an inevitable reality. "Progress", however you want to define it, is not linear, constant, or gradual. It comes in bursts. The scientific and industrial revolutions aren't over yet. The idea that broad-based mid-20th century prosperity (in Westernized countries, at least) was sustainable or normal has no theoretical basis. Individuals seek to maximize wealth and power and, when they obtain it, they have every incentive to justify it. In the past, it was divine right, today it is "meritocracy". It's a positive feedback loop that structures society into a pyramid.
Within our lifetime, vast segments of the labor market will be eliminated. The population will simply have to decline but it won't be a pleasant process. What will probably happen is that wealth will be taxed to alleviate the pain of the unemployed just enough to prevent outright violence or less palpable "solutions" but not enough to allow them to reproduce.
Within our lifetime, vast segments of the labor market will be eliminated. The population will simply have to decline but it won't be a pleasant process. What will probably happen is that wealth will be taxed to alleviate the pain of the unemployed just enough to prevent outright violence or less palpable "solutions" but not enough to allow them to reproduce.
Re: Labour and capital: update
Zack,Zack Morris wrote:manolo: a combination of automation, labor wage arbitrage, and meritocratic power structures have made this an inevitable reality. "Progress", however you want to define it, is not linear, constant, or gradual. It comes in bursts. The scientific and industrial revolutions aren't over yet. The idea that broad-based mid-20th century prosperity (in Westernized countries, at least) was sustainable or normal has no theoretical basis. Individuals seek to maximize wealth and power and, when they obtain it, they have every incentive to justify it. In the past, it was divine right, today it is "meritocracy". It's a positive feedback loop that structures society into a pyramid.
Within our lifetime, vast segments of the labor market will be eliminated. The population will simply have to decline but it won't be a pleasant process. What will probably happen is that wealth will be taxed to alleviate the pain of the unemployed just enough to prevent outright violence or less palpable "solutions" but not enough to allow them to reproduce.
Yes, I have read similar analyses elsewhere. The simplest was "Driving down labour costs to maximise profits by exporting jobs." To such globalisation I would add the globalisation of tax evasion, giving the corporates a win at both ends.
I agree with you about taxation strategy. Tax and spend has taken some of the sting out of the process so far, but more will be required to avoid outright unrest.
Alex.
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Re: Labour and capital: update
I think I can find some people saying almost word for word back in the 1930's.Zack Morris wrote:manolo: a combination of automation, labor wage arbitrage, and meritocratic power structures have made this an inevitable reality. "Progress", however you want to define it, is not linear, constant, or gradual. It comes in bursts. The scientific and industrial revolutions aren't over yet. The idea that broad-based mid-20th century prosperity (in Westernized countries, at least) was sustainable or normal has no theoretical basis. Individuals seek to maximize wealth and power and, when they obtain it, they have every incentive to justify it. In the past, it was divine right, today it is "meritocracy". It's a positive feedback loop that structures society into a pyramid.
Within our lifetime, vast segments of the labor market will be eliminated. The population will simply have to decline but it won't be a pleasant process. What will probably happen is that wealth will be taxed to alleviate the pain of the unemployed just enough to prevent outright violence or less palpable "solutions" but not enough to allow them to reproduce.
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Re: Labour and capital: update
I think gents this throwback 30's and 70's rhetoric is driving predictably the upcoming election results.
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Re: Labour and capital: update
So guys, in your minds which segments of the population are going to have to reduce in number. Which ones won't be allowed to breed.
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Re: Labour and capital: update
I remember back in Spengler forum, in 2008, I posted some pictures of people in starvation camps in association with obama/Democrat policy.
The forum erupted in outrage. Sheer unadulterated blood shot outrage. You'd've though I sodomized a spotted owl. Or worse, commented on someone's private sex life.
Now? Well we might to starve 'em out after all. Amazing what becomes conventional wisdom after just a few short years.
BTW, no need for the eugenics, white leftists all over the place are cutting their reproduction rates voluntarily. I think it is a win win for everyone.
The forum erupted in outrage. Sheer unadulterated blood shot outrage. You'd've though I sodomized a spotted owl. Or worse, commented on someone's private sex life.
Now? Well we might to starve 'em out after all. Amazing what becomes conventional wisdom after just a few short years.
BTW, no need for the eugenics, white leftists all over the place are cutting their reproduction rates voluntarily. I think it is a win win for everyone.
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Re: Labour and capital: update
Contrarily to what happens with other species, among humans sometimes the sheep slaughter the wolves... It doesn't last very long, but it gives the sheep some satisfaction... I'm waiting for the next round...
Re: Labour and capital: update
Endo,Endovelico wrote:Contrarily to what happens with other species, among humans sometimes the sheep slaughter the wolves... It doesn't last very long, but it gives the sheep some satisfaction... I'm waiting for the next round...
I hadn't mentioned that phenomena, but there is indeed historical precedence. When the right wingers whinge about tax and spend, I think they forget that this political expedient is protecting them.
Mr P,
You have made four posts in a row.
Alex.
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Thank You Very Much for your post, Zack Morris,Zack Morris wrote:manolo: a combination of automation, labor wage arbitrage, and meritocratic power structures have made this an inevitable reality. "Progress", however you want to define it, is not linear, constant, or gradual. It comes in bursts. The scientific and industrial revolutions aren't over yet. The idea that broad-based mid-20th century prosperity (in Westernized countries, at least) was sustainable or normal has no theoretical basis. Individuals seek to maximize wealth and power and, when they obtain it, they have every incentive to justify it. In the past, it was divine right, today it is "meritocracy". It's a positive feedback loop that structures society into a pyramid.
Within our lifetime, vast segments of the labor market will be eliminated. The population will simply have to decline but it won't be a pleasant process. What will probably happen is that wealth will be taxed to alleviate the pain of the unemployed just enough to prevent outright violence or less palpable "solutions" but not enough to allow them to reproduce.
I'm not so sure about that.....but not enough to allow them to reproduce.
From what I can see, more reproduction seems to be happening way down the economic ladder versus on the High End among the so called elites.....
For the love of G_d, consider you & I may be mistaken.
Orion Must Rise: Killer Space Rocks Coming Our way
The Best Laid Plans of Men, Monkeys & Pigs Oft Go Awry
Woe to those who long for the Day of the Lord, for It is Darkness, Not Light
Orion Must Rise: Killer Space Rocks Coming Our way
The Best Laid Plans of Men, Monkeys & Pigs Oft Go Awry
Woe to those who long for the Day of the Lord, for It is Darkness, Not Light
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Re: Labour and capital: update
Sorry, Zack Morris gets very upset when I edit posts. I would prefer to edit them, but I don't want to get him mad. With his eugenic impulses, it seems like bad idea.manolo wrote: Mr P,
You have made four posts in a row.
Alex.
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Re: Labour and capital: update
And Berzer thinks I'm the one with bloodlust. When you hear enough people give voice to this urge, well, why wouldn't you spend tens of thousands of dollars on armaments.Endovelico wrote:Contrarily to what happens with other species, among humans sometimes the sheep slaughter the wolves... It doesn't last very long, but it gives the sheep some satisfaction... I'm waiting for the next round...
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