There has always been a financial-legal-accounting complex that has accounted for some large percentage of the economy. That used to be a large part of the labor-capital compact -- at least some of the proceedings of capital were going to well-priced labourers who could build the foundations of the upper-middle class or slightly above.
Capital and its holders are getting more and more naked in their attempt to save costs. Individually, this is great -- spurring automation forward certainly frees people up. In aggregate, however, if political/social factors aren't taken into account with automation, there will be a spate of people who think they will have been robbed of their rightful earnings and their purpose in life -- and that will have consequences, intended and unintended.
> That used to be a large part of the labor-capital compact
No, it was just a necessary cost of maximizing capital returns given the available tools. Elite labor often mistook itself for a natural class ally of the capitalist class because of this, but that was a false belief driven by transitional rather than fundamental conditions.
Capital and its holders are getting more and more naked in their attempt to save costs. Individually, this is great -- spurring automation forward certainly frees people up. In aggregate, however, if political/social factors aren't taken into account with automation, there will be a spate of people who think they will have been robbed of their rightful earnings and their purpose in life -- and that will have consequences, intended and unintended.