Originally posted by Danny B
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I copied something from my post 16 on this thread.
"The policy of creating "jobs" is by its fundamental nature retrogressive--a socialist, communist, fascist, labour--and finance-capitalist policy of sabotage of the rapidly growing productivity inherent in our vast Cultural Heritage. The policy of creating work increasingly for the mere sake of distributing financial incomes is totally irrational, destructive and specifically anti-Christian. Making an end of a means is a major sin within the boundaries of Christian morality. A formal State policy of full or near-full employment is based upon the Doctrine of Salvation through Works (known as the philosophy of "do ut des") which is diametrically opposed to the Christian Doctrine of Salvation through Grace.
Our existing financial system is squarely based upon the Doctrine of Salvation through Works. That is why it issues money or effective demand in the first instance only for production and never for consumption. We could through technology eliminate virtually all need for human participation in production and the financial system, and the Puritanical influence behind it, would still demand that no one should eat because they had no job to justify drawing from the surfeit of goods produced through non-labour processes. The problem is not a lack of "jobs" but rather a lack of effective consumer demand due to a fundamental and intrinsic flaw in the costing methods used in the price-system.
Production will naturally respond to effective consumer demand but demand is increasingly incapable of responding consequent to the evermore inadequate incomes distributed by the modern capital-intensifying economy. Need creates demand and effective consumer demand is a call upon produced goods which in an efficient economy will be increasingly provided with evermore diminishing need for human intervention.
But effective demand in a money economy requires that consumers possess enough unattached financial income to claim the entire output of industry. We do not need more work but rather more real financial purchasing power. Increasing consumer debt does NOT qualify as genuine purchasing-power because it merely transfers financial costs as a charge against future production. Your barber should obtain some automated orbital hair cutters. Of course this would displace more labour and increase the need for sane and practical distributive reform of the existing defective financial price-system."
The perceived cure for automation has been for the State to absorb all the workers cast off by private enterprise. The burden has gotten too great. Sovereign bond markets are collapsing. In the larger scope of things, much of the support from the State has been pumped into private enterprise to support employment in the private sector. Even employees in the private sector depend on State funding.
In a true capitalist system, non profiting companies would be allowed to fail. FED GOV is now buying ALL kinds of equities and bonds. With the C/V shutdown, more and more private enterprise is failing. There are arguments to let them fail.
https://www.zerohedge.com/markets/le...ail-out-people
There is no antidote for efficiency and automation.
"The policy of creating "jobs" is by its fundamental nature retrogressive--a socialist, communist, fascist, labour--and finance-capitalist policy of sabotage of the rapidly growing productivity inherent in our vast Cultural Heritage. The policy of creating work increasingly for the mere sake of distributing financial incomes is totally irrational, destructive and specifically anti-Christian. Making an end of a means is a major sin within the boundaries of Christian morality. A formal State policy of full or near-full employment is based upon the Doctrine of Salvation through Works (known as the philosophy of "do ut des") which is diametrically opposed to the Christian Doctrine of Salvation through Grace.
Our existing financial system is squarely based upon the Doctrine of Salvation through Works. That is why it issues money or effective demand in the first instance only for production and never for consumption. We could through technology eliminate virtually all need for human participation in production and the financial system, and the Puritanical influence behind it, would still demand that no one should eat because they had no job to justify drawing from the surfeit of goods produced through non-labour processes. The problem is not a lack of "jobs" but rather a lack of effective consumer demand due to a fundamental and intrinsic flaw in the costing methods used in the price-system.
Production will naturally respond to effective consumer demand but demand is increasingly incapable of responding consequent to the evermore inadequate incomes distributed by the modern capital-intensifying economy. Need creates demand and effective consumer demand is a call upon produced goods which in an efficient economy will be increasingly provided with evermore diminishing need for human intervention.
But effective demand in a money economy requires that consumers possess enough unattached financial income to claim the entire output of industry. We do not need more work but rather more real financial purchasing power. Increasing consumer debt does NOT qualify as genuine purchasing-power because it merely transfers financial costs as a charge against future production. Your barber should obtain some automated orbital hair cutters. Of course this would displace more labour and increase the need for sane and practical distributive reform of the existing defective financial price-system."
The perceived cure for automation has been for the State to absorb all the workers cast off by private enterprise. The burden has gotten too great. Sovereign bond markets are collapsing. In the larger scope of things, much of the support from the State has been pumped into private enterprise to support employment in the private sector. Even employees in the private sector depend on State funding.
In a true capitalist system, non profiting companies would be allowed to fail. FED GOV is now buying ALL kinds of equities and bonds. With the C/V shutdown, more and more private enterprise is failing. There are arguments to let them fail.
https://www.zerohedge.com/markets/le...ail-out-people
There is no antidote for efficiency and automation.
Enjoy the show, think movie. Not my words, think Q
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