4 ms·

exactly why produce surplus value if you capture none of it?

toomuchtodo 4y ago
In China, this started as “lie flat” and turned into “let it rot.” It’s also a contributing factor in driving down the fertility rate. https://www.scmp.com/yp/discover/lifestyle/article/3194858/lying-flat-letting-it-rot-why-chinas-frustrated-youth-are https://www.scmp.com/yp/discover/lifestyle/article/3194858/l... https://www.theguardian.com/world/2023/jan/20/the-last-generation-young-chinese-people-vow-not-to-have-children https://www.theguardian.com/world/2023/jan/20/the-last-gener...
- twoheadedboy 4y ago
  Can't help but think this is a consequence of social media. People have dramatically unrealistic expectations on what life should be like.
  - mrguyorama 4y ago
    Ah yes, dramatically unrealistic, like functioning public transport, or affordable healthcare, or OWNING A PLACE TO LIVE
  - dwmbt 4y ago
    interesting hypothesis, but my subjective rebuttal is that nearly all of my friends would readily admit that they'd be perfectly content with building a life similar to that of their parents. most kids just don't think it's possible. i asked in the parent comment if this is a normal thing? my parents were immigrants, so they don't have the experience of growing up here. it's always been an uphill battle. perhaps i've inherited that mentality but i wonder if americans of previous generations were also 23 and cynical, never thinking it possible to afford building a comfortable life?
  - kitsunesoba 4y ago
    That may be a component, but I think another thing that contributes is that unlike Gen X which still somewhat bought into the "American dream", many Millennials and Gen Z watched their parents struggle and ultimately burn out growing up and decided they don't want their lives to be like that. Why constantly stress and sacrifice enjoying today for the sake of an almost entirely fictional tomorrow?
  - hellotomyrars 4y ago
    I think the FOMO and enhanced hyper consumerism it enables contributes, but the actual macroeconomic factors around wage growth, etc. are the real problem.
AmericanChopper 4y ago
Growth in productivity is driven by technology, not quality of labor.
- ericjmorey 4y ago
  Productivity of what?
  - AmericanChopper 4y ago
    The productivity of labor. Which is simply revenue per hour of labor. When people talk about the increase in worker productivity, that measurement is simply GDP divided by number of hours worked in the economy. That number has gone up recently, and many people who don’t know what productivity is actually measuring like to comment on the fact that the increase is productivity hasn’t been met with an increase in wages. But that increase has been driven by technology, and the people who are responsible for that increase in productivity capture the value. The people who sell the technology, not the people who sell the labor.
- rurp 4y ago
  Skilled labor isn't more productive than unskilled?
  - AmericanChopper 4y ago
    Skilled labor isn’t new, and it’s not what’s driven the increase in productivity. I can implement useful computer programs today far faster than Dennis Ritchie could in the 70s, even though he’s far more skilled than I am. That difference in productivity is entirely due to advancements in technology.
- recursivedoubts 4y ago
  True in general, but you'll be surprised how quickly things can fall apart when labor stops laboring.

In China, this started as “lie flat” and turned into “let it rot.” It’s also a contributing factor in driving down the fertility rate. https://www.scmp.com/yp/discover/lifestyle/article/3194858/lying-flat-letting-it-rot-why-chinas-frustrated-youth-are https://www.scmp.com/yp/discover/lifestyle/article/3194858/l... https://www.theguardian.com/world/2023/jan/20/the-last-generation-young-chinese-people-vow-not-to-have-children https://www.theguardian.com/world/2023/jan/20/the-last-gener...

twoheadedboy 4y ago
Can't help but think this is a consequence of social media. People have dramatically unrealistic expectations on what life should be like.
- mrguyorama 4y ago
  Ah yes, dramatically unrealistic, like functioning public transport, or affordable healthcare, or OWNING A PLACE TO LIVE
- dwmbt 4y ago
  interesting hypothesis, but my subjective rebuttal is that nearly all of my friends would readily admit that they'd be perfectly content with building a life similar to that of their parents. most kids just don't think it's possible. i asked in the parent comment if this is a normal thing? my parents were immigrants, so they don't have the experience of growing up here. it's always been an uphill battle. perhaps i've inherited that mentality but i wonder if americans of previous generations were also 23 and cynical, never thinking it possible to afford building a comfortable life?
- kitsunesoba 4y ago
  That may be a component, but I think another thing that contributes is that unlike Gen X which still somewhat bought into the "American dream", many Millennials and Gen Z watched their parents struggle and ultimately burn out growing up and decided they don't want their lives to be like that. Why constantly stress and sacrifice enjoying today for the sake of an almost entirely fictional tomorrow?
- hellotomyrars 4y ago
  I think the FOMO and enhanced hyper consumerism it enables contributes, but the actual macroeconomic factors around wage growth, etc. are the real problem.

AmericanChopper 4y ago

Growth in productivity is driven by technology, not quality of labor.

ericjmorey 4y ago
Productivity of what?
- AmericanChopper 4y ago
  The productivity of labor. Which is simply revenue per hour of labor. When people talk about the increase in worker productivity, that measurement is simply GDP divided by number of hours worked in the economy. That number has gone up recently, and many people who don’t know what productivity is actually measuring like to comment on the fact that the increase is productivity hasn’t been met with an increase in wages. But that increase has been driven by technology, and the people who are responsible for that increase in productivity capture the value. The people who sell the technology, not the people who sell the labor.
rurp 4y ago
Skilled labor isn't more productive than unskilled?
- AmericanChopper 4y ago
  Skilled labor isn’t new, and it’s not what’s driven the increase in productivity. I can implement useful computer programs today far faster than Dennis Ritchie could in the 70s, even though he’s far more skilled than I am. That difference in productivity is entirely due to advancements in technology.
recursivedoubts 4y ago
True in general, but you'll be surprised how quickly things can fall apart when labor stops laboring.