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January 5, 2021 at 2:00 pm
#245195
On this subject, you might want to read:
Blair Fix, 2017, ‘Energy and Institution Size‘.
Bichler & Nitzan, 2020, ‘Growing Through Sabotage: Energizing Hierarchical Power‘.
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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 3 years, 2 months ago by Jonathan Nitzan.