Monday, October 18, 2021

Productivity in late capitalism — Chris Dillow

 Must-read. (It's short.)

Chris Dillow sheds some light on one of the chief economic challenges the developed world faces — productivity stagnation — regarding which many factors are operative, including non-economic ones that lead to "internal contradictions" endemic in the capitalistic system as presently configured.

Stumbling and Mumbling
Productivity in late capitalism
Chris Dillow | Investors Chronicle

See also

Fun if you know some Marx.

MR Online
Calvin Wu

1 comment:

NeilW said...

You get productivity growth by eliminating those entities that don't grow their productivity.

If productivity doesn't then grow you end up with a lot of nationalised operations. Which is perfectly reasonable since the reason for allowing capitalism and competition is to get more down with less. If that stops happening, what's the point of enduring the costs of markets - the excess supply required to allow other firms to fail.