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Finance and the "other exploitation" - Vimarsana News

Finance and the "other exploitation"

Review of Costas Lapavitsas: Profiting without producing, Verso 2013 Capitalist exploitation is not just by the boss extracting from the worker, in return for a meagre more-or-less “living wage”, an expansible value-added which may be something like three times what’s paid out in wages. It also comes from making working-class households pay interest on debts which they run up, often on disadvantageous terms, because of their relative poverty and relative lack of power in the markets.

Capitalism in decline: automation in a stagnant economy - Vimarsana News

Capitalism in decline: automation in a stagnant economy

People waiting in line at a job fair in New York, USA – April 26, 2013. Photo: rblfmr / Shutterstock.com The fourth industrial revolution (or Industry 4.0) is upon us. From artificial intelligence to cultured meats to 3D printing, new innovations appear to be on the verge of ushering in a world of both stunning material abundance and human leisure. Such is the forecast of the World Economic Forum, which welcomes this impending technological transformation as an “opportunity … to create an inclusive, human-centered future.” Yet beneath this positive gloss lies a deep anxiety that Indus...