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> 81 percent of the United States population is in an income bracket with flat or declining income over the last decade. That number was 97 percent in Italy, 70
by ryanmarsh 10y ago
> 81 percent of the United States population is in an income bracket with flat or declining income over the last decade. That number was 97 percent in Italy, 70 percent in Britain, and 63 percent in France.
Ok so growth slowed in the West, but weren't a lot of people brought into the middle class in the East?
> It argued that the internet would not have the same transformative impact on how much economic output would emerge from an hour of human labor as 20th-century innovations like electricity, air transport and indoor plumbing did.
There's lots of back office automation going on in the Fortune 500 that is eliminating white collar labor. I seriously doubt these statements about productivity. If its productivity per capita they want then just wait until self driving trucks wipe out millions of jobs.
Am I missing something here? Isn't this basically what happens when labor (the jobs I mean) moves somewhere else and automation eats away at whatever is left?