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You’d simply give them the same pay and reduce their hours so they can live a better life while your margins still increase. That’s what technology is supposed

You’d simply give them the same pay and reduce their hours so they can live a better life while your margins still increase. That’s what technology is supposed to do, make less labor for everyone not entrench power dynamics So yeah I guess the answer is just so obviously singular that capital should be the primary beneficiary from technology

bloppe 3y ago
Capitalism should incentivize efficient allocation of resources. If a job becomes easier or less in-demand, it should see a pay decrease. It's not the capitalist's job to pay above-market wages just because "they should". It's the government's job to redistribute wealth to compensate for unhealthy concentration.
- ceejayoz 3y ago
  > Capitalism should incentivize efficient allocation of resources. Capitalism needs workers who can afford to buy the products, too.
  - bloppe 3y ago
    Perhaps even using the word capitalism has become unhelpful since it's so charged. I think we're basically agreeing with each other. I just think this particular responsibility falls on the government rather than individual employers.
fragmede 3y ago
> give them the same pay and reduce their hours so they can live a better life while your margins still increase. Not that I disagree that would be nice, but what's the incentive to the company owner to do that under capitalism? As a purely business decision, you'd fire the highly paid experts and replace them with lower-paid less-expert labor. Which is exactly what's been going on with layoffs in the tech sector, just without the magic productivity multiplying machine, so this is not theoretical.
- AndrewKemendo 3y ago
  Oh, well under capitalism (Blessings be to it) then you’re actually ethically required to do all those things on behalf of shareholders So, carry on I guess?
codexb 3y ago
Why would an owner do that? The owners would be incentivized to increase production of widgets and try and find even more uses for their widgets, because the margins on them all just increased exponentially. It's also not just capital that benefits. It's being able to direct capital that benefits. If it takes the same amount of skill and work to make a widget as it does to run a cashier, why should the widget-maker get a higher wage? The owners that direct capital towards widget making will benefit more than owners directing capital towards retail.
- AndrewKemendo 3y ago
  Because the system you describe structurally benefits one group exponentially more than the other group, exacerbating an already unequal society That is bad for society in the long run
  - codexb 3y ago
    No, the structure of society matters little. Like I said, technology will benefit the people who are able to harness it. The man who can make and use the spear and the atlatl will outpace the man still throwing rocks. It doesn't matter what the structure of society is.
    - AndrewKemendo 3y ago
      “ No, the structure of society matters little. Like I said, technology will benefit the people who are able to harness it. The man who can make and use the spear and the atlatl will outpace the man still throwing rocks. It doesn't matter what the structure of society is.” I upvoted you and I’m quoting here so that I can reference this later when somebody questions why we need things like unions to protect them from narcissistic psychopaths

bloppe 3y ago

Capitalism should incentivize efficient allocation of resources. If a job becomes easier or less in-demand, it should see a pay decrease. It's not the capitalist's job to pay above-market wages just because "they should". It's the government's job to redistribute wealth to compensate for unhealthy concentration.

ceejayoz 3y ago
> Capitalism should incentivize efficient allocation of resources. Capitalism needs workers who can afford to buy the products, too.
- bloppe 3y ago
  Perhaps even using the word capitalism has become unhelpful since it's so charged. I think we're basically agreeing with each other. I just think this particular responsibility falls on the government rather than individual employers.

fragmede 3y ago

> give them the same pay and reduce their hours so they can live a better life while your margins still increase. Not that I disagree that would be nice, but what's the incentive to the company owner to do that under capitalism? As a purely business decision, you'd fire the highly paid experts and replace them with lower-paid less-expert labor. Which is exactly what's been going on with layoffs in the tech sector, just without the magic productivity multiplying machine, so this is not theoretical.

AndrewKemendo 3y ago
Oh, well under capitalism (Blessings be to it) then you’re actually ethically required to do all those things on behalf of shareholders So, carry on I guess?

codexb 3y ago

Why would an owner do that? The owners would be incentivized to increase production of widgets and try and find even more uses for their widgets, because the margins on them all just increased exponentially. It's also not just capital that benefits. It's being able to direct capital that benefits. If it takes the same amount of skill and work to make a widget as it does to run a cashier, why should the widget-maker get a higher wage? The owners that direct capital towards widget making will benefit more than owners directing capital towards retail.

AndrewKemendo 3y ago
Because the system you describe structurally benefits one group exponentially more than the other group, exacerbating an already unequal society That is bad for society in the long run
- codexb 3y ago
  No, the structure of society matters little. Like I said, technology will benefit the people who are able to harness it. The man who can make and use the spear and the atlatl will outpace the man still throwing rocks. It doesn't matter what the structure of society is.
  - AndrewKemendo 3y ago
    “ No, the structure of society matters little. Like I said, technology will benefit the people who are able to harness it. The man who can make and use the spear and the atlatl will outpace the man still throwing rocks. It doesn't matter what the structure of society is.” I upvoted you and I’m quoting here so that I can reference this later when somebody questions why we need things like unions to protect them from narcissistic psychopaths