alt Hacker NewsDuring the industrial revolution, people thought that all these new machines and factories and electricity meant that everyone would only have to work 4 hours a week since it made everyone so much more productive.
That's not what happened, though. Everyone worked the same amount for the same pay, just in more miserable repetitive working conditions, while the factory owners kept all profits from the gains in productivity.
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Nope. The working week reduced hours.
Those factories were not producing luxury goods. They produced everyday items for the masses. Things like knives, spoons, tools, textiles, ketchup bottles, shoes, furniture, nails, bicycles, etc.
Standard Oil, for example, improved efficiency and reduced the consumer price of kerosene 70%.
There's no evidence of outsized profits.
"while the factory owners kept all profits from the gains in productivity."
Because this is what drives continual risk-capital.. very few countries are willing to upset this. Get over it man - I hate hardended capitalists but stop crying. This is the system we have. Wanna beat it? Go ahead and start a firm. Then you'll find out how tough it is.
The thing I cant get over is enough software engineering folks collectively hold immense power. Whats wrong with you lot (im not a software engineer)? Get your sht together.
P.s. Im starting a firm who's central mission is to attack capitalists (ofc I won't say it out loud in that way). I will find out for myself how much of a backbone software engineers etc have when I employ them.
" The central argument of Capital is that the motivating force of capitalism is in the exploitation of labour, whose unpaid work is the ultimate source of surplus value and profit. "
https://en.wikipedia.org/wiki/Das_Kapital