3 ms·

I wonder if all company owners just fire everyone and replace them with AI, who will pay for their products and services?

• littlestymaar 3y ago
  They already tried by not raising inflation-adjusted wages for 50 years, and the solution to that problem was: lower the interest rate and push people to borrow to consume.
  • cdot2 3y ago
    Inflation adjusted income has risen pretty consistently. The stat people sometimes cite for that is household income which has more to do with changes in average household size rather than changes in wages
    • twoodfin 3y ago
      Real disposable personal income per capita (which accounts for government transfers & subsidies, hence the big Covid spike) has also been on a steady incline. https://fred.stlouisfed.org/series/A229RX0 https://fred.stlouisfed.org/series/A229RX0 Median household income has doubled since only 1994. https://www.statista.com/statistics/200838/median-household-income-in-the-united-states/ https://www.statista.com/statistics/200838/median-household-...
    • Joeri 3y ago
      Does that also hold up for the bottom quintile?