Posted in response to my older thread
incels.is
en.m.wikipedia.org
Essentially, the tndency of the rate of profit to fall theory is a Marxist theory that explains the self destructive nature of capitalism. It argues that increased in productivity due to technology would lead to increased productivity but value would remain the same if demands remain the same.
There are some flaws in the theory, such as the fact that labor (effort) required does not make a product more valuable, which is a key theory in Marxism.
But with AI automation, which takes jobs and does not give (as much) back, it is seeing more valid everyday. AI is a whole different beast; while the horses were replaced with cars, there were car designers, mechanics, engineers, fuel fillers, and a whole infrastructure to boot, the same can't be said about AI.
Not to mention pajeets work from home, which isn't predicted in Marx's time.
The jobs took away, means more competition for the existing type of work, which in turn, decrease the value of the product and therefore your wage. At the same time, we're not seeing much more demand in jobs like the tech sector.
An real world example is chatgpt and other related programming bots (LLM). For example with LLM technology, the programmers can be more efficient, and therefore, rids the need of entry or junior developers, letting the senior do the job only. That causes the job market to shrink. In fact, I'm seeing Dev jobs with lower wage than before!
While I do not agree with Marx's world views, I think he is right on this one.
My prediction is that there will be mass unemployment and riots in the future, because the fact that unemployed people can't consume much if any at all, this would eventually eat away at the rich capitalists. There will be a world revolution but not the way Marxists want it. The world would be less globalistic over time.
But I don't make claims for which system will work or be the best for us, because no one knows what will happen
Bosses are being blackpilled - Most jobs are bullshit and they're turning to gigs
You have your generic wagie job in which you come to office for five or six days a week, working from 9 to 6, with the company paying you and 'benefits' including dental, injury insurance, holidays and so on... You report to the office, get your coffee, respond to some annoying users' request...
incels.is
Tendency of the rate of profit to fall - Wikipedia
Essentially, the tndency of the rate of profit to fall theory is a Marxist theory that explains the self destructive nature of capitalism. It argues that increased in productivity due to technology would lead to increased productivity but value would remain the same if demands remain the same.
There are some flaws in the theory, such as the fact that labor (effort) required does not make a product more valuable, which is a key theory in Marxism.
But with AI automation, which takes jobs and does not give (as much) back, it is seeing more valid everyday. AI is a whole different beast; while the horses were replaced with cars, there were car designers, mechanics, engineers, fuel fillers, and a whole infrastructure to boot, the same can't be said about AI.
Not to mention pajeets work from home, which isn't predicted in Marx's time.
The jobs took away, means more competition for the existing type of work, which in turn, decrease the value of the product and therefore your wage. At the same time, we're not seeing much more demand in jobs like the tech sector.
An real world example is chatgpt and other related programming bots (LLM). For example with LLM technology, the programmers can be more efficient, and therefore, rids the need of entry or junior developers, letting the senior do the job only. That causes the job market to shrink. In fact, I'm seeing Dev jobs with lower wage than before!
While I do not agree with Marx's world views, I think he is right on this one.
My prediction is that there will be mass unemployment and riots in the future, because the fact that unemployed people can't consume much if any at all, this would eventually eat away at the rich capitalists. There will be a world revolution but not the way Marxists want it. The world would be less globalistic over time.
But I don't make claims for which system will work or be the best for us, because no one knows what will happen
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