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>There are always outliers who buck the mold, but on the whole incomes are not rising even for those with education. And why would they? It does not follow from
by lsc 8y ago
>There are always outliers who buck the mold, but on the whole incomes are not rising even for those with education. And why would they? It does not follow from any realistic economic model that incomes should increase.
My model is that technology has allowed us to produce more per unit effort; Even in my field, I can manage a whole lot more computers than I could when I started in the mid to late '90s.
For that matter, even if I was still fixing desktop computers, if I'm fixing desktop computers for EEs this year who are massively more productive than they would have been in the late '90s because of improved technology, it's natural that I'd still get paid more, because even if I'm only saving those people the same number of work hours, those work hours produce more and thus there's more surplus to pay me.
It seems totally reasonable that increased productivity could lead to increased wages. (I mean, there are a bunch of failure modes where it wouldn't, to... but I'm just saying, anyone who is even slightly ideologically capitalist or market oriented is going to argue that increased productivity drives increased income)