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We discovered that we were more efficient if we divided labor. There was a short supply of people able to do some labor, but demand was high, so wages were hig
by VikingCoder 9y ago
We discovered that we were more efficient if we divided labor.
There was a short supply of people able to do some labor, but demand was high, so wages were high.
We've succeeded at that so wildly, and automated so much of our lives, that we have bountiful free time to train to be successful in modern jobs.
...while there is some specialization in modern jobs, there's a lot of jobs that are NOT THAT SPECIAL. So the pool of people who would be capable of doing them with no or a small amount of training is HUGE.
So wages are low.
There's no magic here, folks.
Meanwhile, Capital has chased not just profits, but OWNERSHIP of profit-generating entities. Rents, right? And they've been wildly successful at it.