The end of capitalism has begun
Paul Mason,
Dec 29, 2015
I think this is true, and it may happen even sooner than we think. But we have to be very careful about the sort of post-capitalist society we build. Simply ending the excesses of capitalism does not guarantee a just or prosperous society. But let's look at what's happening to the old economic order (quoted):
- The coming wave of automation will hugely diminish the amount of work needed
- information is corroding the market's ability to form prices correctly... because markets are based on scarcity while information is abundant
- Collaborative production: goods, services and organisations are appearing that no longer respond to the dictates of the market
Think about it. What happens if you can no longer compel people to work? The labour market as we know it exists because of scarcity - if people didn't need the money you pay them, they wouldn't work for you. What happens when automation, abundance and collaborative production take scarcity off the table? And given this, what sort of future should we be preparing people for - what sort of skills, what sort of aptitudes?
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