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Would it be similar to say "factories worsen inequality by mostly helping high-income earners" (consider England during the Industrial Revolution)? New technolo
by ipnon 6y ago
Would it be similar to say "factories worsen inequality by mostly helping high-income earners" (consider England during the Industrial Revolution)? New technology increases our productivity.
- mythrwy 6y ago`New technology increases our productivity` I have doubts about that sometimes.
- Supermancho 6y agoHistorically, that's what happened. The average wage went down because less training was required despite more people being employed. Revenues went way up, quickly.
- sokoloff 6y agoMany (now) mass-produced goods also became much cheaper than when they were artisanally hand-crafted.
- ipnon 6y agoFurther, the extent to which material quality of life has improved since the industrial revolution implies that the drop in prices has exceeded the drop in wages by orders of magnitude.
- onion2k 6y agoThere were a few mill owners murdered by workers they'd put out of work in the industrial revolution. People breaking in to mills and smashing machines was quite common too. People in fear for their livelihood will often fight back.