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05 October 2016
Anthony Sperryn - Posted: 10 Oct 2016
Before I went to this event, I had been reading an article by David Graeber, published in www.evonomics.com/why-capitalism-creates-pointless-jobs-david-graeber/ . The article is also accessible via the Facebook page, Evonomics: The Next Evolution of Economics.Since David Graeber is a Professor of Anthropology at the London School of Economics, I do not think it is too subversive to mention his article here. It was not mentioned at the event.The event did not go too much into the economic background of employment, but part of Professor Graeber's thesis is: "The ruling class has figured out that a happy and productive population with free time on its hands is a mortal danger..." and that there is a large number of jobs he calls "bulls**t jobs" out there, and that people actually doing anything useful are relentlessly squeezed.Another important point in the article is Professor Graeber's statement that "...if 1% of the population controls most of the disposable wealth, what we call "the market" reflects what THEY think is important, not anybody else". This, I believe, is an answer to Tim Frost's assertion that capitalism is the best way of allocating resources, which can only be described as simplistic. The rules of capitalism are not God-given but, largely, created by the 1%. In any case, as has been seen in recent years, markets are all too capable of being rigged and current accountancy practice, ignoring such things as externalities, is woefully deficient in working out true value.
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