So basically you are squeezed between the public demanding lower prices and the investors demanding record returns. If you are not a monopoly, that is an impossible ask
Basically the only truly profitable businesses left out there is selling hopes and dreams to investors, and shovels to those who build them, which just about describes tech & AI, with companies who regularly manage to 10x their valuations (and P/E ratios)
His worldview is primarily that capitalists 'steal' the valuable labor. However it doesn't seem that that is actually the world we are in. Instead the intrinsic value of human labor seems to be slowly trending towards zero.
And it kind of makes sense, same has happened with oxen labor, horse labor, etc.
Sounds like we should start imagining a world where we don't treat people like literal livestock, and then figure out how to get there fast
We tend to have a pretty human-centric worldview so if there's a single human working to keep a hotel running, our default is to attribute all the generated value to them when it really isn't the case. You can imagine that hotel at some point in the near future goes from requiring 1 worker to keep it running to zero.
Because he is? I do not expect for some sort of universal “AGI” to emerge within my lifetime which would supplant humans in every area (of course what do I know.. but still there is no real indication we are even remotely close to that currently)
> default is to attribute all the generated value to them when it really isn't the case
Certainly, you should attribute a significant proportion to the people who installed the automated system and even more to those who designed it.
Indeed, but what happens if/when they choose to sell the system and someone else buys it? Now the owner is who is generating the value. Even if he hires some maintenance worker to come by once and awhile and check up on it, it is the system (aka the capital), not the worker that is generating the vast majority of the value.
If you landscaper had one like the plumbers do he'd have his own yacht.
Or he wouldn't exist because you'd buy about as much of his services as you do a plumber's.
Marxism was an idea formulated especially as a reaction against a world where labor has lost almost all of its value. Which is precisely the origin of capitalism - the idea that money itself can be productive, and thus people who have lots of money can be expected to get more of it.
This was an untrue idea for most of human history, outside of the circles of moneylending and banking.
What's changing is how much of that surplus value is captured by the workers doing the labor.
It's entirely possible for someone to be paid a lot in absolute terms, while at the same time paid very little relative to the value that they produce which is monetarily captured by their organization. The truth of the first does not invalidate the injustice of the second.