Weber was bang on IMHO. Which is why the solution lies in a monetary system wherein Money is not an "Object" (particularly not one created as debt) but a Relationship, requiring an abstract "Value Unit" by way of a measure.

I am having an increasing amount to do with Africa, one way and another, and have been reminded recently by a very influential African - George Ayittey - quite how alien to Africa is the representative democracy the West insists on foisting upon them when they have evolved participative and consensual mechanisms which worked quite well until we barged in with our Maxim guns.

Similarly the nonsense of imposing Western systems of property rights on people who have entirely different concepts of collective "ownership" and use of commons like land in particular.

Wages - themselves a consequence of "Labour" for "Capital" - will IMHO also become obsolete. This will occur when the alternative of an "Open Corporate" (which need not even be recorded in writing, and may exist conceptually) structure wherein individuals work WITH Capital and share the production and/or revenues is understood.

From the little I know, and the even less I understand, I think Marx got a lot right, but that his assumptions were wrong.

I wish I understood exactly what you mean by "wage arbitrage", however, being a Bear of Little Brain economically.


"The future is already here -- it's just not very evenly distributed" William Gibson