Friday, November 13, 2009

Immaterial labor as deflationary force

Argues that immaterial labor of peer production, etc., is permanently removing value from economy and thus will serve as deflationary force -- value destruction, permanent loss of asset value and an emerging steady-state economy from the ashes. we all make less money, but we don't need it so much, because everything we want is made cheaply by volunteer labor. It's a worldwide kibbutz.

If only. Seems this immaterial labor betokens a structural shift; a reconstitution of the labor force so that less of it requires compensation. The profit goes to capital, and proletarianization spreads to knowledge workers who were once bourgeois professionals.

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