2 ms·
>what this means is that the business owners capture all of the benefits of the increased productivity (which is what we've been seeing for decades) Not really
by gruez 1y ago
>what this means is that the business owners capture all of the benefits of the increased productivity (which is what we've been seeing for decades)
Not really. Even though labor's share of GDP has steadily dropped for the past half century, it's on the order of 4% for the past 70 years. Real GDP per capita on the other hand has more than tripled in the same time period.
https://fred.stlouisfed.org/series/LABSHPUSA156NRUG https://fred.stlouisfed.org/series/LABSHPUSA156NRUG
- insane_dreamer 1y agoBecause there's an enormous and growing gap between top compensation and lowest quantity pay, a better comparison would be to look at _median pay_ as a share of _GDP per capita_.
- gruez 1y ago"business owners" by definition, means capital. AI engineers, quant traders, and bankers making 7 figures TC doesn't magically mean they're "business owners" in "business owners capture all of the benefits of the increased productivity".