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It needs more than that if you have a labour market based around money and full time jobs. Odd as it may sound, full time jobs are essentially what cause involu

It needs more than that if you have a labour market based around money and full time jobs. Odd as it may sound, full time jobs are essentially what cause involuntary unemployment because you are not market testing your position on a daily basis. But of course you need full time jobs to have any sort of efficiency in a business using labour - and to have any stability in the customer product market where it uses debt (housing for example) or fixed pricing rather than auctions. The gig economy is an attempt to deskill working to such an extent that individuals can be hired and fired on a daily basis - which would correct for involuntary unemployment if everybody is hired and fired on that basis and everything is bought and sold at auction.

conanbatt 8y ago
An interesting expose, though I dont know how this actually reinforces the idea that free markets need socialized services to survive (other than the aforementioned private property, life and liberty). I want to answer any way because its interesting tho! > Odd as it may sound, full time jobs are essentially what cause involuntary unemployment because you are not market testing your position on a daily basis. Sure, it might decrease labor flexibility which can increase unemployment, but how big an effect can that actually be? And what is the proposed solution to fix that if its an actual problem? > The gig economy is an attempt to deskill... The gig economy is not de-skilling workers, its consuming the labor of unskilled workers because the price-ratio works. Those very same companies pay 6 figure salaries to a lot of people, that provide utility to the company as well. Neither by design, or in theory, do companies increase their profits by reducing the skill of their labor, they do it by increasing their productivity. I see a tenuous relationship with the reserve army concept of Marx trying to be used here, but I'm not buying it.

conanbatt 8y ago

An interesting expose, though I dont know how this actually reinforces the idea that free markets need socialized services to survive (other than the aforementioned private property, life and liberty). I want to answer any way because its interesting tho! > Odd as it may sound, full time jobs are essentially what cause involuntary unemployment because you are not market testing your position on a daily basis. Sure, it might decrease labor flexibility which can increase unemployment, but how big an effect can that actually be? And what is the proposed solution to fix that if its an actual problem? > The gig economy is an attempt to deskill... The gig economy is not de-skilling workers, its consuming the labor of unskilled workers because the price-ratio works. Those very same companies pay 6 figure salaries to a lot of people, that provide utility to the company as well. Neither by design, or in theory, do companies increase their profits by reducing the skill of their labor, they do it by increasing their productivity. I see a tenuous relationship with the reserve army concept of Marx trying to be used here, but I'm not buying it.