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It’s almost impossible to get accurate figures about exactly what proportion of a typical family’s income in, say, America, or Denmark, or Japan, is extracted each month by the FIRE sector, but there is every reason to believe it is not only a very substantial chunk but also is now a distinctly greater chunk of total profits than those the corporate sector derives directly from making or selling goods and services in those same countries.
Now, in the fifties, sixties, and seventies, there was a tacit understanding in much of the industrialized world that if productivity in a certain enterprise improved, a certain share of the increased profits would be redistributed to the workers in the form of improved wages and benefits. Since the eighties, this is no longer the case.
The discipline of economics itself emerged out of moral philosophy (Adam Smith was a professor of moral philosophy), and moral philosophy, in turn, was originally a branch of theology. Many economic concepts trace back directly to religious ideas. As a result, arguments about value always have something of a theological tinge. Some originally theological notions about work are so universally accepted that they simply can’t be questioned.
not only is the social value of work usually in inverse proportion to its economic value (the more one’s work benefits others, the less one is likely to be paid for it), but many people have come to accept this situation is morally right—they genuinely believe this is how things ought to be.
Anyone who has a bullshit job, or knows someone who has a bullshit job, is aware, then, that the market is not an infallible arbiter of value. The problem is that nothing else is, either.
first, that the most important things one gets out of a job are (1) money to pay the bills, and (2) the opportunity to make a positive contribution to the world. Second, that there is an inverse relation between the two.
In a 2017 paper, US economists Benjamin B. Lockwood, Charles G. Nathanson, and E. Glen Weyl combed through the existing literature on the “externalities” (social costs) and “spillover effects” (social benefits) associated with a variety of highly paid professions, to see if it were possible to calculate how much each adds to or subtracts from the economy overall.
Their conclusion: the most socially valuable workers whose contributions could be calculated are medical researchers, who add $9 of overall value to society for every $1 they are paid. The least valuable were those who worked in the financial sector, who, on average, subtract a net $1.80 in value from society for every $1 of compensation.
ladies-in-waiting—that is, servants who would “wait upon” a married noblewoman of slightly higher rank, attending to her privy chamber, toilette, meals, and so forth, even as they were also “waiting” for such time as they, too, were in a position to marry and become the lady of an aristocratic household themselves.
wage labor: that is, a relation between some people who owned capital, and others who did not and thus were obliged to work for them.
the proletariat as a class—a term derived appropriately enough from a Latin word for “those who produce offspring,” since in Rome, the poorest citizens who did not have enough wealth to tax were useful to the government only by producing sons who could be drafted into the army.
Carlyle was ultimately led to the conclusion so many reach today: that if work is noble, then the most noble work should not be compensated, since it is obscene to put a price on something of such absolute value
there is something of a darker story. The initial instinct of most early factory owners was not to employ men in the mills at all, but women and children: the latter were, after all, considered more tractable, and women especially, more inured to monotonous, repetitive work. The results were often brutal and horrific. The situation also left traditional male craftsmen in a particularly distressing situation; not only were they thrown out of work by the new factories, their wives and children, who used to work under their direction, were now the breadwinners. This was clearly a factor in the
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costermongers
To some degree, the skill at reading others’ emotions is just an effect of what working-class work actually consists of: rich people don’t have to learn how to do interpretive labor nearly as well because they can hire other people to do it for them. Those hirelings, on the other hand, who have to develop a habit of understanding other’s points of view, will also tend to care about them.
people in Europe or America have not historically seen their avocation as what should mark them in the eyes of eternity. Visit a graveyard; you will search in vain for a tombstone inscribed with the words “steam-fitter,” “executive vice president,” “park ranger,” or “clerk.” In death, the essence of a soul’s being on earth is seen as marked by the love they felt for, and received from, their husbands, wives, and children, or sometimes also by what military unit they served with in time of war.
1. Most people’s sense of dignity and self-worth is caught up in working for a living. 2. Most people hate their jobs. We might refer to this as “the paradox of modern work.”
After many years of research on the topic, Gini finally came to the conclusion that work was coming to be considered less and less a means to an end—that is, a way of obtaining resources and experiences that make it possible to pursue projects (as I’ve put it, values other than the economic: family, politics, community, culture, religion)—and more and more as an end in itself.
I believe that this instinct to perpetuate useless work is, at bottom, simply fear of the mob. The mob (the thought runs) are such low animals that they would be dangerous if they had leisure; it is safer to keep them too busy to think. —George Orwell,
the fact that our jobs thus come to eat up more and more of our waking existence means that we do not have the luxury of—as Kathi Weeks has so concisely put it—“a life,” and that, in turn, means that furtive consumer pleasures are the only ones we have time to afford.
Conservative voters, I would suggest, tend to resent intellectuals more than they resent rich people, because they can imagine a scenario in which they or their children might become rich, but cannot possibly imagine one in which they could ever become a member of the cultural elite.
It’s largely the white working class that expresses class resentment by focusing on intellectuals; African Americans, migrants, and the children of migrants tend to reject anti-intellectual politics, and still see the educational system as the most likely means of social advancement for their children. This makes it easier for poor whites to see them as unfairly in alliance with rich white liberals.
an anthropologist who has been carrying out a project studying the archipelago of US overseas military bases. She made the fascinating observation that almost all of these bases organize outreach programs, in which soldiers venture out to repair schoolrooms or to perform free dental checkups in nearby towns and villages. The ostensible reason for the programs was to improve relations with local communities, but they rarely have much impact in that regard; still, even after the military discovered this, they kept the programs up because they had such an enormous psychological impact on the
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the great historical difference between what we call the Left and the Right largely turns on the relation between “value” and “values.” The Left has always been about trying to collapse the gulf between the domain dominated by pure self-interest and the domain traditionally dominated by high-minded principles; the Right has always been about prising them even farther apart, and then claiming ownership of both. They stand for both greed and charity. Hence, the otherwise inexplicable alliance in the Republican Party between the free market libertarians and the “values voters” of the Christian
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if we did for some reason wish to pretend that a computer could decide which is the best history course, say, because we decided we need to have uniform, quantifiable, “quality” standards to apply across the university for funding purposes, there’s no way that computer could do the task by itself. The fruit you can just roll into a bin. In the case of the history course, it requires enormous human effort to render the material into units that a computer would even begin to know what to do with.
I prefer solutions to immediate problems that do not give more power to governments or corporations, but rather, give people the means to manage their own affairs.
studies that demonstrate that any system of means testing, no matter how it’s framed, will necessarily mean at least 20 percent of those who legitimately qualify for benefits give up and don’t apply. That’s almost certainly more than the number of “cheats” who might be detected by the rules—in fact, even counting those who are honestly mistaken the number still only comes to 1.6 percent.
Universal Basic Income, which calls for replacing all means-tested social welfare benefits with a flat fee to be paid to everyone,
Most people would prefer not to spend their days sitting around watching TV and the handful who really are inclined to be total parasites are not going to be a significant burden on society, since the total amount of work required to maintain people in comfort and security is not that formidable.
All of the gratuitous sadism of workplace politics depends on one’s inability to say “I quit” and feel no economic consequences. If Annie’s boss knew Annie’s income would be unaffected even if she did walk off in disgust at being called out yet again for a problem she’d fixed months ago, she would know better than to call her into the office to begin with. Basic Income in this sense would, indeed, give workers the power to say “orange” to their boss.
labyrinthine
The number of domestic servants in North Atlantic countries has declined precipitously since the First World War, but to a large extent their ranks have been replaced, first by what are called “service workers” (“waiter,” for instance, was originally the name for a kind of household servant), and second by ever-growing legions of administrative assistants and other such underlings in the corporate sector.
In legal terms, most slaveholding societies justify the institution by the legal fiction that slaves are prisoners of war—and, in fact, many slaves in human history were captured as the result of military operations. The first chain gangs were employed in Roman plantations. They were made up of slaves who had been placed in the plantation’s ergastulum, or prison, for disobedience or attempted escape.
the logical fallacy of affirming the consequent, but still have basic common sense, are generally aware that the statement “if A then B” is not the same as “if B then A.” As Lewis Carroll adroitly put it ,“You might as well say ‘I see what I eat’ is the same as ‘I eat what I see’ ”.
Bertrand Russell puts it nicely in his essay “In Praise of Idleness”: “What is work? Work is of two kinds: first, altering the position of matter at or near the earth’s surface relatively to other such matter; second, telling other people to do so. The first kind is unpleasant and ill paid; the second is pleasant and highly paid.”