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by robertlagrant
1346 days ago
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What was described wasn't the principal-agent problem. If I'm an employee and my job becomes simpler or more productive through an automation investment by someone else, I don't think I deserve part of the increased profit unless I'm part of a profit-sharing agreement that would also see me absorb losses. |
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And how many workers even have the possibility of an arrangement like this, i.e. a worker-owned cooperative?
Yes, that is exactly the point. When a labour-saving technological development comes along, it's payday to the capital-having class and dreary times for the labour-doing class.