Hacker News new | ask | show | jobs
by beepbooptheory 1548 days ago
Is your conclusion here not something that is already established? (Outside of Marxist theory, which would quite emphatically affirm the point, with the addendum that it is a fundamental "contradiction" within capitalism).

I think it seems obvious though, not only the fact that profit seeking would override productivity when they are at odds, but also that the economy needs to sustain unskilled worker reserves.

Also, I bet even teenagers still do a better job than robots for kitchen work, but your point still stands.

1 comments

Productivity is defined as output ($$) per unit of input ($$), you seem to be confusing output maximization with productivity. If it’s cheaper to pay laborers to produce instead of machines, then it is both more productive as well as profit maximizing.

And yes, this is already well established theory within mainstream economics.