When corporations automate jobs to increase profits, the private corporation captures the profit gain while bearing no cost for the social consequences (unemployment, depression, family dissolution, community decay), making automation socially unprofitable even when privately profitable.
causalpending
Speaker
Richard WolffEvidence Quote
“The social costs of all of this are staggering and always have been. But that's none of the problem of the corporation. It bears in a capitalist system no responsibility for that at all.”
Created: 8/11/2026, 1:07:20 AM
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