Capital Never Rests

Decent piece in today’s NYT about the march of automation. Among the facts disclosed:

The [cotton thread] mill [in Virginia] produces 2.5 million pounds of yarn a week with about 140 workers. In 1980, that production level would have required more than 2,000 people.

140 is one fourteenth of 2,000, for you math jockeys. So, 100% of the output with 7% of the workforce.

Made in America - Bayard Winthrop of American Giant

6 Replies to “Capital Never Rests”

  1. I think at this point virtually everybody (yes, even Joe six pack, the office plankton that used to make fun of him, and the upper strata making fun of both) is fully aware of the implications of the process – a tipping point and a substantial socioeconomic instability.

    The trouble is nobody has the imagination and/or the strength to do anything about it. The middle and the lower class (almost all and the same at this point) are indeed frozen, and the elite response so far is exactly the same it has been in every single dead civilization to date: ignore the changes in reality, double down in preserving the status quo by any means, regardless of moral and material costs.

    I think I’ll just go shopping (might as well look good during whatever type of resolution history has in store [ha!] for us).

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