Value creation, bullshit jobs and the future of work
The article discusses the concept of value creation in the context of jobs, particularly focusing on the phenomenon of 'bullshit jobs.' It highlights how advancements in technology, especially AI, are transforming the job market and the nature of work. The author emphasizes the importance of adaptability and resilience in navigating these changes to continue creating value.
- ▪Value creation occurs when the value produced by a job exceeds the wages paid to the employee.
- ▪David Graeber defined a 'bullshit job' as one that is so pointless that even the employee cannot justify its existence.
- ▪Advancements in AI are likely to replace many jobs, leading to significant changes in the workforce in a much shorter time frame than in the past.
Opening excerpt (first ~120 words) tap to expand
Value creation, bullshit jobs and the future of work We create a job whenever someone with the authority to hire decides the value created is greater than the wages paid. In my lifetime, we’ve invented 7 billion or more jobs, which is great news. Great for the people who were able to earn a living, and productive for everyone who experienced some of the value created. “Value” doesn’t always mean profit. David Graeber defined a bullshit job as “A form of paid employment that is so completely pointless, unnecessary, or pernicious that even the employee cannot justify its existence, even though, as part of the conditions of employment, the employee feels obliged to pretend that this is not the case.” But over time, there are no pointless jobs.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Seth's Blog.
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