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No, it's because if a worker works 8h/day, and produces X, given a new technology that double his productivity, he is now expected to still work 8h/day, and pro
by gosub 13y ago
No, it's because if a worker works 8h/day, and produces X, given a new technology that double his productivity, he is now expected to still work 8h/day, and produce 2X.
- gosub 13y agoAnd this, incidentally, is why there never will be "more jobs". Occupation is production over productivity. With an increment of productivity, you can ramp up production up to mass-production keeping the same occupation level. But markets get saturated, so you can't increase production indefinitely. Still, productivity, with automation and robotization and renewable energy sources, could be make practically infinite. But for the reason in the post above, work is not distributed in the work-force.
- RyanMcGreal 13y agoBut his pay remains X, while the CEO, VP team and shareholders keep 100% of the extra value.
- coldtea 13y agoOr actually goes down in actual bying value (as it has since the 70s).