Labor Productivity
With robotics and automation, labor productivity is decreasing - [1]
Jeremy Rifkin on Labor Productivity
- Robert Solow got nobel prize for breaking the floor out of economics - concluding that with the current crappy 14% labor productivity, we don't know where the 86% of productivity is wasted.
14%
Labor + capital account for 14% of the efficiency. Aggregate efficiency in the managing, powering, and moving of economic activity. [2]
NB: concepts are mixing here. Do we have 14% efficiency, or do we have that 86% is waste? Yes, if we claim labor + capital are all of the productivity. From the OSE perspective, proprietary tech and various Competitive Waste are the 86% efficiency loss which can be corrected with:
- Flex Fab - distributed fabrication of the Second Industrial Divide
- Open Source IP - end of patents and trade secrets
- Open Sector Enterprise
- Abundant Money - crypto backed by transparent physical production that can now be accounted in a distributed way, connected to Essential Productivity
- Differentiation between Essential and Bullshit Productivity.
Links
- Automation and the Future of Work, Aaron Benanev
