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> It isn't "society" that's absorbed absorbed increased worker productivity, but employers and those who own the automation. What society has "absorbed" is an
by jpetso 5y ago
> It isn't "society" that's absorbed absorbed increased worker productivity, but employers and those who own the automation.
What society has "absorbed" is an expectation that stock markets will continue rising at a pace that significantly outstrips inflation and (related) wage increases. Pension funds and individual retirement savings (401k, RRSP) heavily rely on employers pocketing the bulk of productivity increases for themselves and continuing to exploit labour. It'd be interesting to see the chaos that would arise if governments decided at some point that workers should get an equal share of that.