The Productivity Paradox: Why Technology Makes the Economy More Efficient But Most People No Richer — fullstackpm.tech
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Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
  • Armand1@lemmy.worldEnglish
    0·
    8 days ago

    Let me guess:

    It’s because all the money goes to billionaires.

    Edit: Pretty much what it says. It’s more detailed than that but yeah. Labourers get less, more value is attributed to capital (buildings, land) and collected by the rich.

      • iopq@lemmy.worldEnglish
        0·
        8 days ago

        Wage theft is not merely being underpaid relative to the work you do. It’s actually not paying someone who worked

          • DomeGuy@lemmy.worldEnglish
            0·
            8 days ago

            Wage theft as only “not paid what was owed according to current law” is already the biggest form of theft and the least prosecuted.

            Please don’t help perpetuate capitalist exploitation by blurring it with the “value theft” inherent to capitalism

            • iopq@lemmy.worldEnglish
              0·
              7 days ago

              “I think I deserve more, but I accept less anyway”

              Maybe you don’t deserve more

              • pinball_wizard@lemmy.zipEnglish
                0·
                7 days ago

                I think I deserve more, but I accept less anyway, due to the ever present threat of unrecoverable retribution against myself and my family if I negotiate too hard