productivity

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The Pie Is Shrinking So Much The 99% Are Beginning To Starve

How much longer until the pitchforks come out?
Friday, January 26, 2018, 11:04 PM

Despite the endless media rah-rah about “growth” and “recovery,” it is self-evident to anyone who bothers to look beneath the surface of this facile PR that the pie is now shrinking. 

This dynamic is increasing inequality rather than reducing it. » Read more

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We're Living Through a Rare Economic Transformation

Those who understand its post-capitalist rules will prosper
Thursday, April 4, 2013, 8:47 AM

In 1993, management guru Peter Drucker published a short book entitled Post-Capitalist Society.  Despite the fact that the Internet was still in its pre-browser infancy, Drucker identified the developed-world economies as knowledge-based as opposed to from industrial economies, which were were from the agrarian societies they superseded.

Drucker used the term post-capitalist not to suggest the emergence of a new “ism” beyond the free market, but to describe a new economic order that was no longer defined by the adversarial classes of labor and the owners of capital.  Now that knowledge has trumped financial capital and labor alike, the new classes are knowledge workers and service workers. » Read more

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The Siren Song of the Robot

It may not be the boon we're counting on
Tuesday, January 29, 2013, 1:03 PM

The quest for cheap energy and cheap labor is a conquering human urge, one that has played out with notable ferocity starting with the Industrial Revolution. The introduction of coal into British manufacturing and the more recent outsourcing of Western manufacturing to Asia have marked key thresholds in this ongoing progression.

But despite the harvesting of additional productivity gains from the more recent revolution in information technology, the suite of macro data suggests that the rate of advancement in physical production has slowed, notably, in the past thirty years.

Seen in this light, the greatest gains to global industrial production were probably enjoyed from the late 18th century (when coal extraction and use began in earnest) into the mid-20th century (when oil reached broad distribution). In contrast, computers, the Internet, and the leveraging of developing world labor might eventually be seen as the finishing touches on this great industrial wave. » Read more