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The data does not support your position. >they cancel out in the medium run If this were true we'd see wages keeping pace with productivity. We'd also see wea
by ahmeneeroe-v2 2y ago
The data does not support your position.
>they cancel out in the medium run
If this were true we'd see wages keeping pace with productivity. We'd also see wealth inequality remain constant. The US is famous for neither of those things being true. Your toy model of US economic activity is flawed with respect to real life.
- worstspotgain 2y ago> If this were true we'd see wages keeping pace with productivity. We'd also see wealth inequality remain constant. These are macroeconomic variables that are affected by many factors. The production function argument I made is strictly microeconomic and independent of these.