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Novara FM: Wave of Automation w/ Aaron Benanev

Novara Media

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The Importance of Service Jobs in the Story of Global Capitalism

I understand why historically the left's attention has often been on the global factory. It seems to me the territory of services is much, much harder to find a handle on. I think that it marks a transition to a late form of capitalism in which productivity growth rates are low for the most part. And what that suggests is a long term slowdown in the growth rate of the system. This isn't necessarily a problem for the ultra wealthy because it also means that workers are much less well off and have much lower bargaining power.

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