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> The cited statistics is in reference to time saved (as a percent of work hours), not a reduction in paid working hours. This makes sense. If everyone’s curre
by jrflowers 2y ago
> The cited statistics is in reference to time saved (as a percent of work hours), not a reduction in paid working hours.
This makes sense. If everyone’s current workloads were suddenly cut in half tomorrow, there would simply be enough demand to double their workloads. This makes sense across the board because much like clothing and textiles, demand for every product and service scales linearly with population.
I was mistaken, you did not suggest that employers would gift workers money commensurate with productivity, you simply posit that demand is conceptually infinite and Jevons paradox means that no jobs ever get eliminated.
- jaredklewis 2y agoUgh, I didn't posit that demand is infinite, nor did I even mention Jevons paradox. In the the past 200 years we've seen colossal productivity gains from technology across every area of the economy. Over the same period, wages have increased and unemployment has remained stable. That's where my priors come from. I'll update them if we get data to the contrary, but the data we have so far (like this paper) mostly confirm them.