Ryan Avent: Labour markets: On "bullshit jobs":
Productive jobs have, just as predicted, been largely automated away…. But rather than allowing a massive reduction of working hours…. we have seen the ballooning not even so much of the “service” sector as of the administrative sector…. Why in the world would firms spend extraordinary amounts of money employing people to do worthless tasks (especially when they've shown themselves to be exceedingly good at not employing people to do worthless tasks)? Says Mr Graeber: "The ruling class has figured out that a happy and productive population with free time on their hands is a mortal danger…."
I am immediately bursting with questions. Such as, should we conclude that protesters… are in fact too happy? How does the ruling class co-ordinate all this hiring, and if much of the economy's employment is useless in the first place why not just keep them on during recessions?