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It's interesting that this doesn't mention the productivity / wage divergence graph that also splits at 1973 that shows that productivity still really outperfor
by nickpinkston 4y ago
It's interesting that this doesn't mention the productivity / wage divergence graph that also splits at 1973 that shows that productivity still really outperforms wages. https://www.epi.org/productivity-pay-gap/ https://www.epi.org/productivity-pay-gap/
I tried to Ctrl+F-ing for some themes:
Not one mention of: "wages, income, poverty, inequality, etc." as progress to this group is purely a tech phenomenon, and "never" by policy failures or from any kind of class issue.
Here are some non-technical things that were mentioned though: "civilization, West, Venice, Florence, American, United Kingdom, Pentagon, etc" - telling...
- epups 4y agoI think the best explanation for what happened was globalization and its accompanying political movement in the West (neoliberalism). Productivity kept growing in the West at the cost of shifting labor-intensive jobs to China and other emerging economies. This in turn depreciated the value of labor back at home. With the majority of economic value being produced by large corporations and a small elite of individuals responsible for managing them, this elite was able to strong-arm the government into lowering taxes, eliminating tariffs and installing all kinds of preferential treatment to whoever could extract value of this global supply chain. I was also disappointed that the discussion about politics and globalization was very superficial.