Paul Mason
Info tech robbed market forces ability to create dynamism 
3 impacts1 Info reduced need to work. Workfee time, work and wages
2 Blurred prices. Built on scarcity, info abundant.  System responds by building monopolies but they not last  

3 rise of collaborative production. Sharing Econ.  Peer production. 
We need to build this into new system of productive . 
Neoliberal tools

1 fiat money. Loosen credit in crisis

2 financialization. Use credit  A co turned away from banks to open market for cash  B banks turned to consumers for source of profit, high risk high reward lending  C consumer participate in market   All our damn loans  D. Simple loans rolled up into complex investments down the line.

 3 global imbalances. Risk buried in currencies4 info tech allow this happen. Future impact uncertainty
Fiat money based on trust in state that sponsors it. 

Network effect. Bell tell. Create something valuable for free.  More people join a network, more useful it is to all. But utility hard to measure. (# of uses squared)

Info goods conflict with market forces
Nicoli Kondrodiov long waveUp 25 years. CApital flows. Expansion, roll out of new tech.  Wars. Expansion of trade. New business models.  Rise in availability of cash (symptoms not cause)  take off capital accumulates after than invested. 

Down 25 years capital locked, depression. Interest rate fall, recessions regular. Wear and tear of tech, factories, canals. 
Labor source of profit. Unequal power relationship.  Tension comes from productivity needs pushing to machines, squeeze out profit. 
Finance chose interest over profit.  Allow capitals to continue when prices fail. 

Neoliberalism been solving profit problem by lowering labor costs and investing new types of interest.  But issue remains. Falling investments.  
Neoliberal don’t investment. Pay dividends. Stress. Profits used are reserve as buffer.  Pay down debt.  By back stock in good times. 
Info tech makes nommarket Econ. Creates people willing to pursue self interest thru nom market process. 

Profit making state planning bureau. No profit from research. OSRD Competition and ownership put on hold Cross fertilization, creativity and production. Innovation culture. Survived into peacetime. 
Attack on labor Neoliberalism designed by politicians. Intend to smash laborMod Econ can’t run with labor. 

Fascists solidarity around capital Atomization of labor Collapse labor extends wave Fail to resist. Captain survives by cheap labor.  Not forced to innovate. Wage share of

GDP.  Financialization, globalization, cut social spending. 
How of mod product in labor, material info?Value of data, collection and use, hard to quantify. 

GNU manifesto. To charge is to limit idea, productivity. No form of ownership. Richard Stalmann shouldn’t exist. 

Fragment on Machines. Marx. Industry changes relation tween man and machine. Process between man and tool. We step aside. Main productive force the info in process.  Org and K more valuable than labor. Not longer wages/price. But becomesWho owns K?  Marx says the K must become social. No one can own code. Maybe bits but the base of it open. But K remains with the worker. Changes from many people.  Big data is socially produced.  K drives productive and K is social 

K sustainable. K based capital. No scarcity. General intellect, networked info. We share and build. Liberation will come thru leisure time.  Little work able to deploy full social k from all.  

Cig capital. We get value from data of our use. Society as factory. Information and things 
Info good price zeroInfo in many productsWages,credits, brand id, free data.

Labor theory of value (chapter 7)Not gold or silver but by work that wealth created. Value of labor equal to what other products of labor able to purchase. Work needed to make something determines its worth. Labor source of value but only able to see through higgiling. Adam smith. 

Ricardo – machines add productivity, not value. Lessen labor needed, saved labor increases profit (valve remains with labor)

Marx increased productivity. Value of labor. Machines force mulltoler. Increase machine share if input. Less labor more machine. Downward pressure on price. 

Marginal utility – no value to anything else what people will pay for it. Value determined in market but utility and quantity. Final or marginal. Last one more expensive.  Market is rational. All price results from rational choice.  Market clears till demand matches supply. Dispense with labor, deeper Econ laws, make us all rational traders. Ignores class and social justice. 

80’s attack labor first. Destroy solidarity. Atamized and precarious work force, drive cost of labor down to save profits.  People not buying branding.  Just getting cheaper.

Globalization, financialization and cutting social support destroyed wage share going to workers. 
Network vs hierarchy 

Root cause analysis of why we experiencing 3 overlapping systemic failures,Financial, climatic and demographic:Economic system in disequilibrium with its environment and insufficient to satisfy the needs of a rapidly changing humanity. 
Simon Econ. Orgs not markets. 
State enable new tech wit mind towards vision. Network based infrastructure planning. 

Tax incentive start up.  Now for fast food, low wage jobs. Franchise places. Change so nonprofit, collab easier to start. Living wage companies easier, low wage harder. 

Employee rights.  Companies didn’t want to outlaw salver or child labor. 
Public ownership. Water housing electricity, telecom. And Shrink debt. 
Results from state funded research is open source.  Shift from private to public ownership. 

Social finance. Risk socialize, rewards should to. National bank willgoals to bring down debt. Sustainable target.  Move money on shore and eradicate those who refuse.Can’t drive down income, force innovationBasic income formalize division between work and money. Also help force innovation, non-work economy