Google is sitting on 10s of billions in cash and has no idea how to invest it. Microsoft and Apple are the same way. See the discussion at Marginal Revolution.
How about a guaranteed income floor for everyone and a 20 hr/week job for everyone who wants it? The 19th century ended a long time ago, folks.
Policymakers can help by adding antitrust scrutiny of Google’s actions in the television market with an eye on protecting labor rights in the sector as well.
The discussion on inequality coming out of the Occupy Wall Street protests is how we got to the point where so many workers are not sharing in the economic bounty of our nation’s economy. Part of the answer is that as industry after industry faced strains from emerging technologies and globalization, counsels of “do nothing” prevailed as unions were destroyed and jobs shipped overseas.
With Hollywood, we actually have a sector that is currently economically vibrant where the bottom 99% of workers in the industry share in the wealth enjoyed by the top 1% in the industry. It faces strains on its model — and the threat of Googlization is a top one — but we have time for citizens and policymakers to step up and figure out what new models can sustain both new innovation AND a robust standard of living for all workers in the industry.
via Nathan Newman: How the Googlization of Television Will Destroy High Wage, Union Hollywood.