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Economists tend to see income as related to the value labour adds to a product or service. By that rationale, during this crisis, nurses helping save lives contribute only a fraction of the CEOs who are watching their companies fall apart. Or is something else driving inequality? It’s largely the growth of the rentier class, says Steve Keen. Phil Dobbie asks whether technology could also be making thinks worse, not better. Is a skilled carpenter forced to charge less because of the availability of mass produced pre-packed furniture? And how can lots of office jobs, which create nothing, pay more than jobs that add directly to the value of something? Even if we fully understand the causes of inequality, will we ever rid ourselves of it?
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter at https://www.patreon.com/ProfSteveKeen
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Economists tend to see income as related to the value labour adds to a product or service. By that rationale, during this crisis, nurses helping save lives contribute only a fraction of the CEOs who are watching their companies fall apart. Or is something else driving inequality? It’s largely the growth of the rentier class, says Steve Keen. Phil Dobbie asks whether technology could also be making thinks worse, not better. Is a skilled carpenter forced to charge less because of the availability of mass produced pre-packed furniture? And how can lots of office jobs, which create nothing, pay more than jobs that add directly to the value of something? Even if we fully understand the causes of inequality, will we ever rid ourselves of it?
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter at https://www.patreon.com/ProfSteveKeen
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