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Productivity gains came from capital, e.g. computers, automation, etc. This makes labor less valuable, and decreases labour's negotiating power, preventing an
by arx1v 10y ago
Productivity gains came from capital, e.g. computers, automation, etc.
This makes labor less valuable, and decreases labour's negotiating power, preventing an increase in wage from an increase in productivity.
That is, if your work is augmented by a machine, then it's a hell of a lot easier to replace you.
- toomuchtodo 10y agoRight. Labor = citizens. Citizens = votes. And as a society, we can decide to tax your productivity to provide for said citizens (Human being quality of life > profits). Everyone so quickly forgets, "Let them eat cake."
- FuckOffNeemo 10y agoI've never seen a more accurate sound (text?) bite for the challenges that today's labour market are facing. These will only be exasperated further by the onset of automation and robotics in the coming generation(s). I don't have a doubt that we could easily turn around the benefits of automation and robotics towards favouring the middle and working classes. My concern though, is that the few that are currently gaining wealth from reduced labour costs in favour of productivity have a stronger grasp on where this wealth goes, than the majority outside of socialist strongholds like Scandinavia and some European states. And that trend will continue. Edit: grammar, shit pre\post-tense structuring.