People Get Ready: The Fight Against a Jobless Economy and a Citizenless Democracy, Authors: Robert McChesney and John Nichols.
By Robert McChesney, Mark Karlin – The conventional wisdom, embraced and propagated by many economists, has been that while new technologies will disrupt and eliminate many jobs and entire industries, they would also create new industries, which would eventually have as many or more new jobs, and that these jobs would generally be much better than the jobs that had been lost to technology.
But we argue the idea that technology will create a new job to replace the one it has destroyed is no longer operative. Nor is the idea that the new job will be better than the old job, in terms of compensation and benefits. Capitalism is in a period of prolonged and arguably indefinite stagnation.
Our point is simple: Capitalism as we know it is a very bad fit for the technological revolution we are beginning to experience.
We desperately need a new economy, one that is not capitalistic — based on the mindless and endless pursuit of maximum profit — or one where capitalism has been radically reformed, more than ever before in its history.
It is the central political challenge of our times. more> http://goo.gl/hGmIOo