Not mentioned in the article, but one common prediction was that we would all be working less thanks to increased productivity. Well, the increased productivit

Not mentioned in the article, but one common prediction was that we would all be working less thanks to increased productivity. Well, the increased productivity part was right. The working less part not so much. An explanation I've heard and find intuitively plausible is that as productivity increased, so did available credit. Private debt has increased substantially so that all of the extra wealth just goes to debt servicing. If you look at what has happened to the FIRE industries, this tracks. TLDR; Extra productivity is captured by those with capital to lend.