On this subject, you might want to read:
Blair Fix, 2017, ‘Energy and Institution Size‘.
Bichler & Nitzan, 2020, ‘Growing Through Sabotage: Energizing Hierarchical Power‘.
The chart below, taken from our recent paper ‘The Limits of Capitalized Power. A 2020 U.S. Update‘, suggests that U.S. capitalists require not absolute, but strategic sabotage: not too cold, not too warm.
Like with Goldilocks, too much sabotage reduces their earnings share, but so does too little sabotage. The optimal level of sabotage — otherwise known as ‘business as usual’ — is what economists call the ‘natural rate of unemployment’.
- This reply was modified 2 weeks, 2 days ago by Jonathan Nitzan.