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When companies start announcing layoffs due to the economic downturn, think about how deeply irrational the capitalist system is. Its response to an externality decreasing production is to fire workers, i.e. to further decrease production! The whole system is a house of cards.
A rational response to decreased production is simply to decrease our consumption. Unfortunately for us, our economic system is completely incapable of dealing with decreased consumption without widespread chaos, mass unemployment, and instability.
The middle class is living on scraps as it is. How do you expect them to decrease consumption any further?
I don't know if Lazzarato's latest has a translation in your country already, but boi if it wasn't predictive
A communist concisely explains his logic behind the race to zero.
That is too charitable. It is a random collection of words with the superficial appearance of a cohesive thought.
What am I missing here? If we decrease our consumption, who will pay the workers who are producing?
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