Posts tagged labor

Why Your Rent Is So High and Your Pay Is So Low

economics, rent, labor, capital, inflation, technology

Every economy has to answer two questions: how much to produce and how to distribute that production. Technological advances ensure that each year we can make more stuff with less labor and capital than the year before. This has not changed. What has changed is how we allocate the benefits of progress. Back in the day, workers got the money; today, owners of assets do. Stagnant wages and higher stock prices are two sides of the same coin.

David Graeber Interview

jobs, labor, david graeber, graeber, society, politics, work, economics, unions, socialism, anarcho-

Well, we can talk about the decline of the union movement, but it runs deeper. In the late 19th and early 20th centuries, one of the great divisions between anarcho-syndicalist unions, and socialist unions, was that the latter were always asking for higher wages, and the anarchists were asking for less hours. That’s why the anarchists were so entangled in struggles for the eight-hour day. It’s as if the socialists were essentially buying into the notion that work is a virtue, and consumerism is good, but it should all be managed democratically, while the anarchists were saying, no, the whole deal—that we work more and more for more and more stuff—is rotten from the get-go.