Date: Sat, 27 Apr 1996 19:44:29 -0800 To: marxism-AT-jefferson.village.Virginia.EDU From: djones-AT-uclink.berkeley.edu (rakesh bhandari) Subject: Re: productivity Doug wrote: > The irony of using capital expenditures to boost the efficiency of >>unproductive labor is very deep; are we sharpening the teeth of our own >>parasites? On a related topic...there was a good story in the Wall Street Journal about two weeks ago about how the computer industry is now facing the threat of overproduction, as firms seem less and less willing to scrap old information and telecommunications technology for the latest equipment. And a couple of years ago, I remember reading an interesting article by computer expert Charles Ferguson who said that it is easier to automate the hell out of information intensive activities of Wall Street than for example automobile production. He talked about the insecurity of all those college grads who thought they could work in some brokerage firm and live on easy street. It was pretty funny to think of so many dreams of so many dough boys crushed... Rakesh --- from list marxism-AT-lists.village.virginia.edu ---
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