I've long claimed on this blog that most of my readers have been miseducated by folks in the #fakeducation bidness.
Those skool teachers you hold in such esteem knew full well that what they were doing was 'in the better interests of the whole'.
How that didn't scare us on its face is a function of the naivete of the youth.
I say this because my fakeduction was incomplete, too.
None of these books I have been pushing were on the reading list at my 'high' skool.
This one does a better job than Orwell, but we don't hear about it because it exposes the socialusts.
I submit this blog as further evidence supportive of this presumption of mine.
Under Fully-Automated Communism, Your Wage Is $90 Per Hour (Says Math)
AUGUST 26, 2018 JOHN LAURITS
Recently, a reader responded to two posts of mine — one that used macroeconomic data to show how much of the nation’s income ends up in workers’ pockets and another that looked into how long a US workweek might be if the US automated as many work-hours as existing technology allows — and the response seemed worthy of publishing here (with permission, of course).
The numbers used below are sourced from the posts “Working Class w/ No Living Wage” and “If Work-Hours & the Value of Automation Were Distributed Fairly Today.”
What follows is the response — the author wished to not be named.
Another great article.
If we add in the stats you wrote about in “Working Class w/ No Living Wage: The Absurd Math of US Income,” then we should be able to see what the real value of those distributed work hours are.
If the current average work week is 38.7, and the average annual wages are $49,630, then the current average value of an hour of work is:
\mathtt{ $49,630 \div 52 \div 38.7 \approx $24.66}
If the hours were split evenly as you suggest above, then we’d get:
\mathtt{ $49,630 \div 52 \div 30.7 \approx $31.09}
And if we add in automation, then we’d get:
\mathtt{ $49,630 \div 52 \div 1 9.23 \approx $49.63}
$49.63 for an average hours worth of work.
But the more interesting part of the article on US Income is that $9.8 trillion is unearned (i.e. not acquired by doing work).
If we got rid of that, and moved all of the GNI (minus government benefits) to earned income, then we’d have a very different picture.
Total US income minus benefits:
\mathtt{ $18.75 \text{ trillion}\ - $2.0393 \text{ trillion}\ = $16.7107}
If the mass workweek is 5.66 billion hours, the mass work year is 294.32 billion hours.
So if all income was based on labor we’d have an average rate for an hours work of:
\mathtt{ $16.7107 \text{ trillion}\ \div 0.29432 = $56.78}
And if we throw automation in the mix than people on average should be working for an hourly wage of:
\mathtt{ $16,710,700,000,000 \div (52 \times 3,545,798,057) = $90.63}
[ End of Response ]
So, as you can clearly see, dear reader, math says we are getting a bum deal from these banksters.
We should get a rope, iyam.
But, you got to decide for you.
We can more sustainably win this contentious back and forth by simply growing a garden and trading with our neighbors.
If we do it in coins, we do it at the expense of the banksters previously mentioned.
If we do it in crypto, the only folks complaining are again, said banksters.