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Automation yes, productivity is not necessarily improving, wages (in purchasing power) are mostly stagnant. There has been a lot of outsourcing going on in the
by polskibus 8y ago
Automation yes, productivity is not necessarily improving, wages (in purchasing power) are mostly stagnant. There has been a lot of outsourcing going on in the last 15 years too, including moving a lot of factories to China, India. That can give a false premise that there has been a lot of automation going on, but in reality, globally there was little improvement.
- JoeAltmaier 8y agoNo, outsourcing is included in the estimate. Outsourcing occurs when a process hasn't scaled up enough to be worth automating i.e. cheaper to hire overseas hands to do the process. When factories come back to America for instance, its because the process got large enough to warrant automation, which can be expensive. It bring nearly no jobs 'back'. And productivity is funny. When folks move down the economic spectrum (from technical to office to labor etc) its called 'full employment' but almost by definition productivity of point-of-sale or labor is very low. Definitely there's no improvement for the individual.