One could argue that the current economic system has shifted to increasingly taking labor from the vast majority of producers while providing a minimal amount of compensation, all while a tiny slice get a vast amount of compensation.
Because most producers simply don't get enough of a margin above subsistence, a wide range of society dosen't have the resources to make investments in new businesses (or new personal investments) and our economic potential suffers. If too much of the economic excess is concentrated into too few hands we end up with an inefficient command economy.
What the BBC article describes to us should strongly hint to us that the current work arrangement is a local maxima in the efficiency of our social/economic system, and that other arrangements should be looked at to yield better social and economic benefits. And honestly, I think that labels such as "Socialism" and "Capitalism" have done a lot of damage in the short-circuiting of analysis of economic systems (ie. in the vein of "This is socialism" we we know that doensn't work...). We really have to move beyond classifying into those broad categories and deciding policy based upon what broad camp one believes in.
Because most producers simply don't get enough of a margin above subsistence, a wide range of society dosen't have the resources to make investments in new businesses (or new personal investments) and our economic potential suffers. If too much of the economic excess is concentrated into too few hands we end up with an inefficient command economy.
What the BBC article describes to us should strongly hint to us that the current work arrangement is a local maxima in the efficiency of our social/economic system, and that other arrangements should be looked at to yield better social and economic benefits. And honestly, I think that labels such as "Socialism" and "Capitalism" have done a lot of damage in the short-circuiting of analysis of economic systems (ie. in the vein of "This is socialism" we we know that doensn't work...). We really have to move beyond classifying into those broad categories and deciding policy based upon what broad camp one believes in.