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I think his point is that technological innovation will result in transfer of income from labor to investors that finance the innovation. It most certainly wil
by vasilipupkin 12y ago
I think his point is that technological innovation will result in transfer of income from labor to investors that finance the innovation. It most certainly will, but he skirts the issue that the innovation itself could very well dramatically increase GDP !
- mrow84 12y agoIsn't it more that there will be a transfer in the share of income, rather than the absolute amount - i.e. not ruling out a rise in absolute GDP?