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Steve Bosserman

We May Be Closer to Full Employment Than It Seemed. That's Bad News. - The New York Times - 0 views

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    What if those not seeking jobs are finding alternative ways to meet their basic needs outside of the reported job market? And does an increase in this number suggest that whatever systems they use to achieve such an end function in their favor, become more robust, and attract others to adopt them as well?
Steve Bosserman

Will the Sharing Economy End Capitalism as We Know It? | POV | OZY - 0 views

  • With even nursing at risk of becoming an on-call gig-working Uber-like profession, the model could bring about the end of employment and become the main way of organizing labor in the new economy, thinks Sundararajan. But problems arise when casual side hustles turn into full-time gigs. We have “painstakingly” built a system of worker protections, minimum wages, regulations and pension schemes that “transformed full-time employment from something that was pretty reprehensible 100 years ago to something that looks pretty good in many countries today,” says Sundararajan. How will a crowd-based economy look after its workers?
Steve Bosserman

How Do We Reclaim Control Of Our Lives When the Economy Looms So Grim? | naked capitalism - 0 views

  • What he found was that—in the absence of a perpetually-growing economy—community and culture are key. He quotes, for example, the historian Juliet Schor’s view of working life in the Middle Ages: “The medieval calendar was filled with holidays …These were spent both in sober churchgoing and in feasting, drinking and merrymaking …All told, holiday leisure time in medieval England took up probably about one third of the year. And the English were apparently working harder than their neighbors. The ancien régime in France is reported to have guaranteed fifty-two Sundays, ninety rest days, and thirty-eight holidays. In Spain, travelers noted that holidays totaled five months per year.”
  • Reading this took me back to a childhood fed by TV programmes like the BBC’s Tomorrow’s World, which had informed me that by now robots would be doing all the menial work, leaving humans free to relax and enjoy an abundance of leisure time. So it came as a shock to realise that the good folk of the Middle Ages were enjoying far more of it than we are in our technologically-advanced society. What gives? Fleming explains, “In a competitive market economy a large amount of roughly-equally-shared leisure time – say, a three-day working week, or less – is hard to sustain, because any individuals who decide to instead work a full week can produce for a lower price (by working longer hours than the competition they can produce a greater quantity of goods and services, and thus earn the same wage by selling each one more cheaply). These more competitive people would then be fully employed, and would put the more leisurely out of business completely. This is what puts the grim into reality.”
Steve Bosserman

What is the gig economy? - The Washington Post - 0 views

  • The unemployment rate is at a 17-year low, but stagnant wages, chronic underemployment and growing inequality are leading more Americans to take on so-called side hustles. Some want to supplement their incomes. Others are just trying to eke out a living. Nearly 1 in 4 Americans now earn money from the digital “platform economy,” according to the Pew Research Center. Most of that work is for domestic tasks, such as housecleaning and repairs, or driving for companies such as Uber.
  • But labor experts say companies such as Snag Work could set a dangerous precedent. Employers are already wary of hiring full-time employees because of overtime and health-care costs, they say, and having a pool of potential gig workers at the ready could make matters worse for those seeking the stability, benefits and protections that come with full-time work.
Steve Bosserman

Millennials are struggling. Is it the fault of the baby boomers? - 0 views

  • Anthropologist Helen Fisher inelegantly described the maturing of this huge postwar bulge in the population as “like a pig moving through a python”, changing society as we grew older on a scale never known before. We challenged the Victorian puritanism, censorship, class snobbery and inhibitions of the establishment. Full employment put money in the pockets of managers and factory workers alike. In spanking new houses with inside lavatories and proper bathrooms, hire purchase allowed him (and less so, her) to spend, spend, spend as if, overnight, everyone had become a toff. It could only get better. Yet today, “baby boomer” is a toxic phrase, shorthand for greed and selfishness, for denying the benefits we took for granted to subsequent generations, notably beleaguered millennials, who reached adulthood in the early years of this century. So, where did it all go so very wrong?
Steve Bosserman

It wasn't just hate. Fascism offered robust social welfare | Aeon Ideas - 0 views

  • The origins of fascism lay in a promise to protect people. In the late 19th and early 20th centuries, a rush of globalisation destroyed communities, professions and cultural norms while generating a wave of immigration. Right-wing nationalist movements promising to protect people from the pernicious influence of foreigners and markets arose, and frightened, disoriented and displaced people responded. These early fascist movements disrupted political life in some countries, but they percolated along at a relatively low simmer until the Second World War.
  • After coming to power, the Italian fascists created recreational circles, student and youth groups, sports and excursion activities. These organisations all furthered the fascists’ goals of fostering a truly national community. The desire to strengthen (a fascist) national identity also compelled the regime to extraordinary cultural measures. They promoted striking public architecture, art exhibitions, and film and radio productions. The regime intervened extensively in the economy. As one fascist put it: ‘There cannot be any single economic interests which are above the general economic interests of the state, no individual, economic initiatives which do not fall under the supervision and regulation of the state, no relationships of the various classes of the nation which are not the concern of the state.’
  • When, in January 1933, Hitler became chancellor, the Nazis quickly began work-creation and infrastructure programmes. They exhorted business to take on workers, and doled out credit. Germany’s economy rebounded and unemployment figures improved dramatically: German unemployment fell from almost 6 million in early 1933 to 2.4 million by the end of 1934; by 1938, Germany essentially enjoyed full employment. By the end of the 1930s, the government was controlling decisions about economic production, investment, wages and prices. Public spending was growing spectacularly.
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  • There can be no question that violence and racism were essential traits of fascism. But for most Italians, Germans and other European fascists, the appeal was based not on racism, much less ethnic cleansing, but on the fascists’ ability to respond effectively to crises of capitalism when other political actors were not. Fascists insisted that states could and should control capitalism, that the state should and could promote social welfare, and that national communities needed to be cultivated. The fascist solution ultimately was, of course, worse than the problem. In response to the horror of fascism, in part, New Deal Democrats in the United States, and social democratic parties in Europe, also moved to re-negotiate the social contract. They promised citizens that they would control capitalism and provide social welfare policies and undertake other measures to strengthen national solidarity – but without the loss of freedom and democracy that fascism entailed.
Steve Bosserman

Escape to another world | 1843 - 0 views

  • What these individuals are not doing is clear enough, says Erik Hurst, an economist at the University of Chicago, who has been studying the phenomenon. They are not leaving home; in 2015 more than 50% lived with a parent or close relative. Neither are they getting married. What they are doing, Hurst reckons, is playing video games. As the hours young men spent in work dropped in the 2000s, hours spent in leisure activities rose nearly one-for-one. Of the rise in leisure time, 75% was accounted for by video games. It looks as though some small but meaningful share of the young-adult population is delaying employment or cutting back hours in order to spend more time with their video game of choice.
  • People work for many reasons – to occupy their time, to find purpose in life and to contribute to society, among other things – but the need to earn money typically comes top of the list. Money puts food on the table, clothes in the wardrobe and a roof overhead. Yet these days, satisfying those needs in the most basic way does not take an especially large income, particularly for those with the option of depending on family members for assistance. The reason to work harder and earn more than the minimum needed to survive is, in part, the desire to have something more than the bare necessities – nice meals, rather than the cheapest calories available, a car, holidays abroad, a home full of books and art. Much of the work we do is intended to earn the money to afford a few luxuries to add to our comfort and enrich our lives.Yet we face a trade-off. The harder we work, the less time we have to enjoy the luxuries our labour affords us. The more lavish the luxuries we seek, the more we must earn to acquire them, and the longer and harder we find ourselves working.
  • Stand back, however, and the implications are far more substantial than this. One can just about spot the vision of a distant, near-workless future in the habits of young gamers. If good things in life can be had for very little money, then working hard to have more than very little money looks less attractive. The history of the industrial era has been one in which technology has reduced the proportion of income devoted to necessities like food while providing vast new possibilities for consumption. As this happened, the hours worked by the typical person declined.
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  • A life spent buried in video games, scraping by on meagre pay from irregular work or dependent on others, might seem empty and sad. Whether it is emptier and sadder than one spent buried in finance, accumulating points during long hours at the office while neglecting other aspects of life, is a matter of perspective. But what does seem clear is that the choices we make in life are shaped by the options available to us. A society that dislikes the idea of young men gaming their days away should perhaps invest in more dynamic difficulty adjustment in real life. And a society which regards such adjustments as fundamentally unfair should be more tolerant of those who choose to spend their time in an alternate reality, enjoying the distractions and the succour it provides to those who feel that the outside world is more rigged than the game.
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