Tim Jackson: Capitalist Economies
on Tuesday, January 19, 2021Tim Jackson Money Quote saying we have long viewed productivity as the thing that drives capitalism. Tim Jackson said:
“Productivity — the amount of output delivered per hour of work in the economy — is often viewed as the engine of progress in modern capitalist economies. Output is everything. Time is money” — Tim Jackson
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In this quote, Tim Jackson seems to be critiquing a narrow focus on productivity and output within capitalist economic systems. By noting that productivity (amount of output per hour worked) is often seen as the “engine of progress” and stating that “output is everything” and “time is money”, Jackson implies an overriding emphasis on maximizing production efficiency and financial gains above all else.
The quote conveys Jackson’s perspective that modern capitalist economies prioritize delivering ever-greater outputs in less time in a way that could undermine other important societal values like well-being, sustainability and work-life balance if not balanced with other considerations. Overall, he appears to be arguing for a more holistic view of “progress” beyond monetary outputs alone.