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FTA: "One is to create genuine economic value; the other is to generate a protective carapace of bullshit to protect their continued employment." So they're act
by ArkyBeagle 10y ago
FTA: "One is to create genuine economic value; the other is to generate a protective carapace of bullshit to protect their continued employment." So they're actually working shorter hours; they're just exercising presentist tactics to keep that job.
< insert endless " I know he can get the job, but can he do the job?" with Dan Hedaya sequence from the intro to "Joe vs the Volcano" here. >
There is some literature which shows that returns to capital are just as weak as returns to labor.
http://marginalrevolution.com/marginalrevolution/2017/01/capital-share-declining-mark-ups-rising.html http://marginalrevolution.com/marginalrevolution/2017/01/cap...
- dv_dt 10y agoAnd there is much better documented data (from Picketty's database) that shows that return from capital is as high as the gilded age. I don't think you can really blame employees for presentism, I think it's generally more difficult to make part-time work arrangements in the white collar world, whereas at the lower end of wages, where it benefits capital owners, blue-collar workers are forced to be part-time...
- ArkyBeagle 10y agoNo, I did not intend to blame employees - it's baked into the system. I'd argue that it only benefits capital owners in the sense of having a convenient thing ( that's hopefully nearly irrelevant ) to measure. Edit: I think Piketty glosses over what's actually capital and what is not. It's not the complement of labor - production is the mixing of land, labor and capital. That's three things.
- eru 10y agoIt's the returns to land, not capital in general. See eg http://www.economist.com/blogs/freeexchange/2014/02/inequality http://www.economist.com/blogs/freeexchange/2014/02/inequali... and others you can find when looking for "Picketty land".