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Internationalization, exponential worldwide population growth, and technological advancement are probably all major factors in making labor, across the board, l
by mrmekon 9y ago
Internationalization, exponential worldwide population growth, and technological advancement are probably all major factors in making labor, across the board, less valuable. I would imagine that it affects low/non-skilled the most, but also cuts into high-skilled labor. And when labor is cheap, value shifts from the labor itself to the holder of the goods [citation needed].
Isn't it intriguing that in all of these talks and comparisons of now to "the good ol' days", whenever you pick those days to be, it's seldom mentioned that the world population grew by multiple billions since the comparison started? There are twice as many humans on the planet as there were in 1970. What that means for income distribution isn't for me to say, but it seems a safe bet to assume it's at least _related_.