- Apr 2023
This depreciation is done at the lowest level of exchange and caused the system to collapse rather quickly. What level is our current exchange done at such that the inequalities are pushed up multiple levels making the system seem more stable? How is instability introduced? How could it be minimized?
Our current system is valued both by time and skill (using the measure of payment per hour).
Compare this with salespeople who are paid on commission rather than on an hourly basis. They are then using their skill of sales ability and balancing time (and levels of chance) to create their outcomes, but at the same time, some of their work is built on the platform that sales management or the company provides. Who builds this and how do they get paid for it? Who provides sales leads? How is this calculated into the system costs?
How do these ideas fit into the Bullshit Jobs thesis?
Tradesmen, too, were quick to see that the exchange might be worked to their advantage; they brought unsaleable stock from their shops, exchanged it for labour notes, and then picked out the best of the saleable articles. Consequently the labour notes began to depreciate; trouble also arose with the proprietors of the premises, and the experiment came to an untimely end early in 1834.
The labour exchange at Gray's Inn Road which began on September 3, 1832, which was based on Robert Owen's idea in The Crisis (June 1832), eventually collapsed in 1834 as the result of Greshham's Law in which "bad money drives out good." In this case, rather than money the object was the relative value of goods which were exchanged based on Labour notes. Labour notes were used to exchange unsaleable stock in shops for labour notes which were then used to purchase more valuable goods. This caused depreciation of the labor notes ultimately causing the experiment to collapse in 1834.
- labour exchange
- financial stability
- Robert Owen
- time is money
- Gresham's law
- sales management
- unsaleable goods
- market economy
- sales funnels
- Sep 2022
This point may not appeal as much to liberal sensibilities, but any serious conversation of this study, or upward mobility generally, has to begin with the state of the two-parent family in America.
This seems to fall back on the trope of "two-parent families are the natural state" when in reality, since the late 80's one's chances are better with a two-parent, two-income family which provides far greater stability. His argument here is conflating multiple complex items, an issue he takes with Gladwell himself.
Why not peel apart this two-parent claim the same way? I suspect he may be nodding to the single-earner two-parent mode, but how prevalent is this in American culture now? What other pieces also underpin this? And is it different by state, by race, by culture, etc.
- Sep 2020
Melnikoff, D. E., & Strohminger, N. (2020). The automatic influence of advocacy on lawyers and novices. Nature Human Behaviour, 1–7. https://doi.org/10.1038/s41562-020-00943-3
- Aug 2020
Modelling the Distributional Impact of the COVID-19 Crisis. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13235/
Social Stability Challenged: Pandemics, Inequality and Policy Responses. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13249/
- social stability
- safety measure
- disproportionate impact
- financial stability
- simulation analysis
- economic impact
- government response
- Jun 2020
Pettifor, A. (2020). Rebuild the ramshackle global financial system. Nature. https://doi.org/10.1038/d41586-020-01507-1