Why The One-Percenters Will Take advantage

AdminMay.26.2011

Why The One-Percenters Will Take advantage of The Gig Economy While the Rest May Not

Dear Branko, thanks for sharing your really intriguing post. It’s difficult to understand exactly what the future will hold, but at the minute I believe the most sensible scenario is that work will be carved up in smaller sized and smaller sized tasks and gigs/micro gigs/Nano gigs (what you call task T burglarized T1, T2, Tn) then a lot of those tasks will be provided to automation/robots/algorithms not people to do. The human function may be lowered to merely hitting the button to begin the robot. It will be a menial, unskilled task and low paying. More and more workers may well be lowered to that menial role.

In a sense, the gig economy business like TaskRabbit, Crowd Flower, Elance-Upwork, Freelancer.com, Guru, Zaarley, Fiverr and others are pioneering app-driven labor task brokerages which indenture vulnerable1099 workers who auction themselves off, with the most affordable bidders winning ever smaller sized tasks and smaller sized amounts of money. Many freelancers will be lowly paid braceros, offering their services in naked competition versus each other. The clients can take the most affordable quotes, which are ensured to keep the quotes low for the future.

Yes, this will result in unimaginably massive performance boosts, and in the past that has in some cases led to higher success for all. What about this time? Who would reap the benefit of this unimaginably enormous efficiency boost? Would it be a handful of Masters of deep space, i.e. such as the chief entrepreneurs and financiers? Or would the gains be broadly dispersed to the public? Nobody’s crystal ball can tell us the response, but exactly what we do understand is this: over the last several decades, the economy has actually been reorganized so that the wealth gains from greater performance and new innovation have actually streamed into the pockets of an ever smaller minority of one-percenters. We also know that wages have actually stagnated despite sizable boosts in business earnings. So our country’s current financial history shows all too clearly that the general public remains in no way guaranteed to take advantage of technological innovations and efficiency gains. Rather the contrary.

It depends greatly on what policies and politics are pursued during this interregnum, prior to our society begins edging closer to this extremely unpredictable future. The onset is arriving, like a huge comet from another galaxy, more quickly than the public or the political leaders understand.

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