by clydethefrog | 2025-11-07 10:24:29+00:00
>Abundance

Economic historian Trevor Jackson engaged with Abundance (together with eco-radical book Overshoot) in the September issue of the American left-ish publication NYRB, if you're curious about an earnest essay [0].

Since it's behind a paywall and the Overshoot book also gets reviewed, I picked out the most substantive quotes to highlight the actual critique:

> The evidentiary core of each chapter consists of a summary of the academic work of a few experts, usually economists, with frequent and lengthy quotations, as well as the occasional interview, whose conclusions are repeated uncritically. (To take one example, they quote without scrutiny the claim of Zoom CEO Eric Yuan that he is requiring employees to work in person in order to foster trust, rather than to impose discipline or to recoup the costs of commercial real estate.) They give no sense of the unruly literatures on their subjects, the ranges of disagreement, the difficult problems and mutually exclusive solutions. They claim to set an agenda for a new liberal political order, but what they have done is read some economists and argue, again, for deregulation.

> Klein and Thompson are opposed to redistribution, which they refer to as “parceling out the present” and which they claim is “not enough,” and instead of imagining “social insurance programs,” they propose that we make “technological advances.” [...] Klein and Thompson do not seem to realize that their proposals would also entail large-scale redistribution and that the ills they seek to cure are the result of inequality rather than regulation, because they do not seem to understand how prices and property work in capitalism. Translating higher profits to shorter workweeks would require a scale of redistribution that far outstrips anything Bernie Sanders has proposed. Claiming that profits will be shared because they are based on “the collective knowledge of humanity” opens up a wider set of imperatives than they realize. Most profit, labor, and technology is in some way built on the collective knowledge of humanity, in the sense that education, work, and knowledge are shared, social, and cumulative, and all workers are the result of collective social reproduction.

> They devote no serious thought to the basic political problem that homeowners are a large and powerful constituency, especially at the local level, who are likely to oppose (or already do oppose) the reforms Klein and Thompson suggest because driving down the cost of housing will drive down the value of homes. That constituency has produced undeniably regressive politics—which is a political fact to be reckoned with. So must the fact that homeowners organize to protect their asset prices because decades of American policy have used mortgages to substitute for the welfare state and wage growth. Any plausible agenda to drive down the cost of housing is going to require things like social housing, rent controls, and some mechanism to keep Blackstone and other private equity giants from buying up all the new housing and holding it empty until prices rise. Housing abundance calls for redistribution, in other words, as well as an aggressive state willing to confront property owners ranging from homeowner coalitions to asset managers.

> Klein and Thompson likewise seem unaware that technologies are owned by people. Despite an entire chapter on the problems of scaling technologies to mass consumption, they do not pause to consider that the self-driving cars, the lab-grown meat, and the solar electricity of their imagined future will be property, whose owners will have an interest in higher profits, higher rents, and higher prices. Klein and Thompson’s agenda is predicated on avoiding distributional conflicts by increasing supply so as to lower prices, yet they do not address the problem that lower prices are good for buyers but bad for sellers, and therefore are themselves a kind of distributional conflict, though one mediated through markets instead of politics. Their faith in markets is axiomatic. In passing, they describe “modern liberal politics” as an effort to “make universal” a set of “products and services.” Not justice, equality, dignity, or freedom, but products and services. This is the vision of the future that has attracted millions of dollars to remake the Democratic Party.

> Klein and Thompson do not cite but bring to mind John Maynard Keynes’s 1930 essay “Economic Possibilities for Our Grandchildren,” which also imagined a future of abundance and shorter workweeks. Keynes predicted future GDP almost perfectly, but he thought economic growth would be widely shared, and his future included a solution to technological unemployment as well as the end of the accumulation of wealth as a source of social importance. Klein and Thompson do not consider why this future was superseded, and now, ninety-five years later, they set out to imagine it again, believing the past is a long trajectory of technological progress temporarily held back by regulation and social protections enacted by procedural liberals. For them, the relation of the past to the future is part of a story of overcoming, not a tragedy of lost possibilities. They are right that much of the blame for our current predicaments can be traced to the forms of liberal governance since the 1970s, but they are mistaken to blame, more specifically, its predilection for environmental regulation and building codes. Rather, it is the way liberal politicians have either acquiesced to or actively encouraged the rise of an unaccountable tech and finance oligarchy that now threatens the continued existence of democracy itself and that claims a monopoly on the capacity to imagine and create the future.

[0] https://www.nybooks.com/articles/2025/09/25/how-to-blow-up-a...