Weekly Tings

  • I suggest you read this. Its really good. What I found most profound is how he points out these glaring contradictions in relation the way we think about capital, technology and innovation. Also, what I found really profound is the description he gives in relation to the very contemporary discussion around jobs - either being taken by 'Foreigners' or by 'Machines'. Whats interesting to me about this argument is he points to specific tax and corporate deregulation and how it incentivised certain behaviours. Pre these regulations business executives would be taxed relatively heavily on profits. This meant they could either use profits to fund research and development, give staff raises, hire more people or essentially give big swathes of profit to government. When these tax reforms as well as corporate reforms came in CEO's and shareholders could also take way more of profits in dividend payments or stock options. Additionally, all the elements of the book about bureaucracy, the behaviours bureaucracy encourages and the amount of time and effort that goes into admin over actual work really compelling too.