Occasionally, I read an article that I think is particularly enlightening. Today’s recommendation is such an article. It is a review of two books on the role of equity finance (or what we used to call LBO [leveraged buyout]) in the debasing of labor. It provides the first cogent explanation for the change that has occurred in the workplace from using/hiring employees to outsourcing to freelancers. More importantly, from my perspective, it provides an explanation of why I have been uncomfortable with Republican Party economic and government theories (not that the Democrat Party theories are exponentially better albeit they are better) and generally tend to vote Democrat.
The books and review also provide at least one explanation why freelance editor rates have stagnated since the mid 1990s, why offshoring became (and continues to be) the first choice among publishers, and why, for publishing, these phenomena are easily traced back to the consolidation by merger and/or acquisition of publishing houses that occurred in the late 1980s to mid 1990s.
The article is “Why Work is More and More Debased” by Robert Kuttner (alas, the article is locked and only a small portion is available for free online; if The New York Review of Books is available at your local library or bookstore, this issue — October 23, 2014 — has many articles that are is well worth reading); the books are The Fissured Workplace: Why Work Became So Bad For So Many and What Can Be Done to Improve It by David Weil and Private Equity at Work: When Wall Street Manages Main Street by Eileen Appelbaum and Rosemary Batt.
Richard Adin, An American Editor