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What do we mean by "productivity"? Do we mean that a person is creating more wealth to the benefit of him/herself and fellow citizens? Or do we mean they are ac
by branchless 9y ago
What do we mean by "productivity"? Do we mean that a person is creating more wealth to the benefit of him/herself and fellow citizens? Or do we mean they are accruing more fiat money in a flawed system that does not map wealth creation onto fiat accrual?
We've lost control of terminology, we are using rentier terms to debate against them and therefore we are going to lose. This is a classic way to control.
edit:
But they may well be producing absolutely nothing. If you have one company creating wealth and another appropriating the same amount Bloomberg would say that is twice the "productivity" of one entity. But we don't have more. Often many modern companies, due to our fantastic surpluses as a society, destroy value by inhibiting wealth creation as part of their appropriation.
It's critical we get control of these terms otherwise you are walking straight into a trap that will defeat your point.
- metaphorm 9y agoI hear you on this one. "productivity" is not a term I like to use when discussing these issues, but it is a term that will be familiar to Bloomberg readers. We can at least accept a basic definition of it where you just look at company revenues divided by worker man hours, so productivity in that sense is $/man-hour.