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This thinking is counter to acknowledging the modern automation revolution. Wealth and productivity are largely becoming detached from people, and as such the s

by zanny 7y ago

This thinking is counter to acknowledging the modern automation revolution. Wealth and productivity are largely becoming detached from people, and as such the sources of revenue western nations use to fund entitlements wouldn't be going to go away as people age out of hard labor years if the tax burden was on the corporate entities rather than individual income / social security / etc taxes. The money is still there and will likely not go anywhere except into fewer hands and pockets. Its up to societies to actually adjust their tax model to curtail it.

marcosdumay 7y ago
Productivity gains are slowing down at the developed world (and the developing one too). It's a widely discussed phenomenon on economics cycles, and mostly people seem to have no idea why that is happening. There's a nice US graph here: https://tradingeconomics.com/united-states/productivity#historical https://tradingeconomics.com/united-states/productivity#hist... An OECD study that goes up to 2005: http://www.oecd.org/employment/labour-stats/41354425.pdf http://www.oecd.org/employment/labour-stats/41354425.pdf
- ChuckNorris89 7y ago
  >Productivity gains are slowing down at the developed world (and the developing one too). It's a widely discussed phenomenon on economics cycles, and mostly people seem to have no idea why that is happening. I moved to western Europe and realized why. Millennials there don't want to take part in the competitive rat race to be productive as their boomer parents have bought plenty of properties when real estate was cheap and salaries were high enough that even a factory worker in the 70's could afford a large apartment. They will later inherit said properties so they feel no pressure to get into high stress jobs since they are basically taken care of for life. So why bother? The only people I know who are constantly grinding and hustling here are immigrants who don't own any real estate so they're constantly working to afford to get on the property ladder.
  - marcosdumay 7y ago
    Ok... Do you realize that productivity has no relation with how hard one works, don't you?

by zanny 7y ago

marcosdumay 7y ago

Productivity gains are slowing down at the developed world (and the developing one too). It's a widely discussed phenomenon on economics cycles, and mostly people seem to have no idea why that is happening. There's a nice US graph here: https://tradingeconomics.com/united-states/productivity#historical https://tradingeconomics.com/united-states/productivity#hist... An OECD study that goes up to 2005: http://www.oecd.org/employment/labour-stats/41354425.pdf http://www.oecd.org/employment/labour-stats/41354425.pdf

ChuckNorris89 7y ago
>Productivity gains are slowing down at the developed world (and the developing one too). It's a widely discussed phenomenon on economics cycles, and mostly people seem to have no idea why that is happening. I moved to western Europe and realized why. Millennials there don't want to take part in the competitive rat race to be productive as their boomer parents have bought plenty of properties when real estate was cheap and salaries were high enough that even a factory worker in the 70's could afford a large apartment. They will later inherit said properties so they feel no pressure to get into high stress jobs since they are basically taken care of for life. So why bother? The only people I know who are constantly grinding and hustling here are immigrants who don't own any real estate so they're constantly working to afford to get on the property ladder.
- marcosdumay 7y ago
  Ok... Do you realize that productivity has no relation with how hard one works, don't you?