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Yes, individual productivity has gone up in almost every field due to technology innovations. However, the increased profits generated from the productivity inc
by socialist_coder 10y ago
Yes, individual productivity has gone up in almost every field due to technology innovations. However, the increased profits generated from the productivity increases are only being captured by the business owners. The actual workers are seeing nothing, and many workers are actually being laid off so they are losing.
So in this case, businesses are using their leverage in the job market (high unemployment) and the fact that they own the means of production to break the relationship between income and productivity.