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@light.noc.social.ap.brid.gy Oct 10, 2026, 12:29 PM

Big if true.

https://thebaffler.com/salvos/of-flying-cars-and-the-declining-rate-of-profit

#DavidGraeber #economics #capitalism

Industrial capitalism has fostered an extremely rapid rate of scientific advance and technological innovation—one with no parallel in previous human history. Even capitalism’s greatest detractors, Karl Marx and Friedrich Engels, celebrated its unleashing of the “productive forces.” Marx and Engels also believed that capitalism’s continual need to revolutionize the means of industrial production would be its undoing. Marx argued that, for certain technical reasons, value—and therefore profits—can be extracted only from human labor. Competition forces factory owners to mechanize production, to reduce labor costs, but while this is to the short-term advantage of the firm, mechanization’s effect is to drive down the general rate of profit.

For 150 years, economists have debated whether all this is true. But if it is true, then the decision by industrialists not to pour research funds into the invention of the robot factories that everyone was anticipating in the sixties, and instead to relocate their factories to labor-intensive, low-tech facilities in China or the Global South makes a great deal of sense.

@paninid.mastodon.world.ap.brid.gy Sep 30, 2026, 10:03 AM

#DavidGraeber was right

https://inaniludibrio.com/2025/02/15/being-nice-person-is-good-but-irrelevant/

@hkustshss.bsky.social Sep 8, 2026, 1:49 AM

Prof. Giulio Ongaro published an article arguing David Graeber’s “constituent imagination” unifies his work but risks idealism by underplaying class struggle, urging grounding his anthropology of possibilities in historical materialism.

#ConstituentImagination #DavidGraeber #HistoricalMaterialism

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