engineering Labor
Human work and its role in production and value
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format_quote Quotes
"By property I mean the right that a worker has to the value he has created by his labor."
menu_book Property and Law
View Full Quote"The direct cause of massive unemployment is labour market inflexibility. In fact, state intervention in the labour market and union coercion, made possible by the privileges the legal system confers on unions, results in a series of regulations which make the labour market one of the most rigid."
menu_book Money, Bank Credit, and Economic Cycles
View Full Quoteauto_stories Books
Predatory Value Extraction
William Lazonick's book-length case (co-authored with Jang-Sup Shin, Oxford University Press, 2019) against the 'maximizing shareholder value' ideo...
Read Moreperson Authors
psychology Concepts
Financialization (Downsize-and-Distribute)
A term for the shift in large-company management from a 'retain-and-reinvest' model, where profits are kept in the firm and reinvested in R&D, capa...
Learn Morebalance Sophisms
Job Counts Are Not the Measure of Prosperity
"Billionaires don't create jobs: large corporations cut 173,000 positions while small and mid-sized businesses added 1.9 million."
Read the rebuttalEmployees Aren't the Only Source of Value
"A business owner can only get rich off the productivity of the people he employs."
Read the rebuttalWorking More Doesn't Create More Value
"A boss doesn't work a thousand times harder than his employees, so he doesn't deserve to earn a thousand times more than them."
Read the rebuttal