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That's a good thing. But it would have been better if wages kept up with productivity growth too, which they haven't.
by bjourne 5y ago
That's a good thing. But it would have been better if wages kept up with productivity growth too, which they haven't.
- chii 5y agothe productivity growth required capital investments (either as upfront research/development, or as capital expenditure on plant and equipment). The owners of this capital require a return on such an investment, and thus, they get first dibs on the excess productivity (aka, profit).
- beeboop 5y agoCapital they "created" off the backs of workers