Steve Randy Waldman
@interfluidity.com

The point isn't to find angels on a pin about saying 62% of your wages is due to social capital. We can rarely directly measure the share of contribution of factors of production (this is a huge problem for marginal product theory). 1/

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Steve Randy Waldman
@interfluidity.com

The point is that "labor", given the admixture of social capital and "career", has changed from a category that was once relatively homogeneous and solidaristic (only for a brief period, between the mid 19th and 20th centuries) to one structured as a tournament with winners and losers. 2/

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Steve Randy Waldman
@interfluidity.com

The project of building a mutualistic society cld once use the identity "worker" as a substrate or scaffolding. It made sense to call for workers of the world to unite. Once the bulk of "workers" becomes a heterogenous category of people in competition with one another, it's crabs in a bucket. /fin

in reply to self