In the last post I discussed a dynamic macroeconomic model that replicates many of the empirical distributions found in real economies, and also demonstrates that the ultimate drivers of economic inequality are markets, the wage system and exploitation. Much of the recent (last 10 years) mainstream discussion of inequality (conveniently?) avoids any mention of exploitation. In fact, most people aren’t sure what exploitation actually is.
Below I’ve uploaded the audio of the accompanying talk, which I presented at the Oxford Communist Corresponding Society (highly recommended if you’re left leaning and want to explore and discuss nonstandard topics). The first 30 minutes are the blog post, and the last 15 minutes I respond to some of the points raised in the discussion (not recorded).