Industry 4.0: Concept, Basic Technologies, Impact on the Job Market

There are no honest goods to buy or to sell; adulterated foods, shoddy manufacture of all that we wear, the underpaid labor and consumed life that make every garment a texture of falsehood, the hideous competitive war that slays its millions where swords and cannons slay their tens, all unite to baffle and mock the efforts of the awakened conscience at every turn, and make the industrial system seem like the triumph of hell and madness on the earth. Only by a sort of terrible daily denial of his spiritual self, a crucifixion of the principles by which he longs to organize his life, can a man wrest a stained and insecure livelihood from this terrible war for bread which we call industry.

A market is a group of buyers and sellers of a particular good or service. The buyers as a group determine the demand for the product, and the sellers as a group determine the supply of the product. Markets take many forms. Some markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales. More often, markets are less organized. For example, consider the market for ice cream in a particular town. […] Nonetheless, these consumers and producers of ice cream are closely connected.

I believe that one ought to have only as much market efficiency as one needs, because everything that we value in human life is within the realm of inefficiency — love, family, attachment, community, culture, old habits, comfortable old shoes.