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

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High Arka
6 years ago

And they saw it coming, but for some reason not known to us, their bodies, except for their eyes, lips, and fingers, were frozen, and so they did nothing, and then they were gone.

Mark Lovas
6 years ago

Thanks for drawing my attention to this…..It gives new meaning to the slogan “Buy American”. (Support OUR machines, not foreign machines……)

Marla Singer
Marla Singer
6 years ago

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:… Read more »

High Arka
6 years ago

If you’re so inclined, there’s a speech from c. 2290.

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