- Apr 2023
Link to: https://hypothes.is/a/lV19ytGBEe2ynWMu34UKUg
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.
- unsaleable goods
- financial stability
- labour exchange
- market economy
- sales funnels
- Robert Owen
- Gresham's law
- time is money
- sales management
- Sep 2021
em ? Puritanism, in its marriage of convenience with industrial capitalism, was the agent which converted men to new valuations of time; which taught children even in their infancy to improve each shining hour; and which saturated men's minds with the equation, time is money.128 O