Before this gets shared too widely I should probably point out that FT is wrong to assume the dynamics that applied under feudalism apply to capitalism as well. Under the artificial scarcity of capitalism workers' bargaining power has no relation to population density
You: "Workers and owners don't have opposing interests, we're one big family, management knows best and we have to be productive to succeed in life"
Your boss: "I'm glad that not too many peasants will die because otherwise I'd have to pay them more, amirite fellow capitalists?"
@JDespland
Actually England and France passed laws that prohibited landowners from offering wages higher than pre-Plague rates, as well as restricting peasants and serfs from moving for better wages and levied fines on people who gave alms to healthy-looking beggars
@alexatplay
yes they are both examples of class societies with an exploited working class, but the relations of productions and therefore the mechanisms of exploitation are completely different
@JDespland
But unemployment does and all over the world it was at a record low and wages started rising after 20 30 years again. So the now expected crash stopped that.
@JDespland
I think the theory the FT is basing the entire article on has also been questioned (if not outright debunked).
It wasn't as easy to move about under feudalism as that paragraph suggests.