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this post was submitted on 09 Jan 2024
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Is there a name for this concept? I feel like there is, or should be.
Enshittification, probably
That's what everyone is calling it but it's basically a byproduct of the tendency of the rate of profit to fall while also being an analog for it.
You’re probably right, I just thought that was a catch all term being used for basically everything, lately.
It actually has a specific meaning and is used in academic literature now. Here’s a quote from Cory Doctorow’s Wired article on the subject:
It’s basically the same economic mechanisms producing similar results across many industries. Makes sense to use the same term