Since my last post here many months ago, I’ve put most of my effort on this topic the here into creating the content that is now in this Google Knol (which integrates some content from this blog as well):
“Beyond a Jobless Recovery: A heterodox perspective on 21st century economics”
This article explores the issue of a “Jobless Recovery” mainly from a heterodox economic perspective. It emphasizes the implications of ideas by Marshall Brain and others that improvements in robotics, automation, design, and voluntary social networks are fundamentally changing the structure of the economic landscape. It outlines towards the end four major alternatives to mainstream economic practice (a basic income, a gift economy, stronger local subsistence economies, and resource-based planning). These alternatives could be used in combination to address what, even as far back as 1964, has been described as a breaking “income-through-jobs link”. This link between jobs and income is breaking because of the declining value of most paid human labor relative to capital investments in automation and better design. Or, as is now the case, the value of paid human labor like at some newspapers or universities is also declining relative to the output of voluntary social networks such as for digital content production (like represented by this document). It is suggested that we will need to fundamentally reevaluate our economic theories and practices to adjust to these new realities emerging from exponential trends in technology and society.
Here is a direct link to the section on “Four long-term heterodox alternatives”.