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  1. All Marx related posts will be moved here. From last night's debacle of breaking a rolling lol (mea culpa): Lol that’s not what it’s about at all. But good job in not reading Marx. Now Marx goes on to describe the horrible working conditions, and they were, but regulation and enforcement improved those working conditions (Marx also makes a lot of assumptions that show correlation but not necessarily causation). And, as Solow shows in his seminal paper, technology has such a huge impact on the aggregate production function that it doubles or more GNP per worker. This of course results in more revenue, meaning more tax (in well managed countries), meaning more social services, infrastructure investment etc etc. As well, as study after study shows (see appendices), technology increases wages both for low skill and high skill workers. It may or may not increase inequality, but that is often a function of between plant differentials, regulation and social determinism more than a strict correlation with technology. Indeed, Marx himself confirms that technology and the people skilled enough to use it, results in an increase in wages: So really the question is, as you so pithily put it, why do you hate the proletariat? You would see technological progress be removed from the workplace because in the short term it may cause some displacement? In fact, you can ironically see the result in China, where because of the demand for their technological prowess, wages have increased (a large part of the rise in China’s economy). There are of course pitfalls, and when the US and UK turned in the 80s to profit maximization, and the culture of greed arose, regulations that had limited widening inequality, removed corporate tax revenue, and diminished government expenditures on infrastructure and social services were introduced to deleterious effect. However, in many other countries, technological advancement has led to rising prosperity and increased social living standards. Of course the issue is that Americans tend to think their experiences with capitalism are universal, when that really isn’t the case at all.
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