We will see what statistics say and what the trend will be in a few years, but if labor goes up for the same output then mathematically productivity has to go d

We will see what statistics say and what the trend will be in a few years, but if labor goes up for the same output then mathematically productivity has to go down, which has a variety of consequences, but I can think of 1) less capital market yields; 2) less tax income from governments. Both 1 and 2 have nasty impacts on pensions. I am not saying one way of thinking is better, I am just pointing out the obvious fact that there is no free lunch. Workers might get a better deal now, to be handed a bad one when they retire. Unless technology comes to the rescue and helps us keep increasing productivity, but it’s not realistic to rely only on tech.