I wonder indeed... 🤔
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Now do a charge with injuries and deaths compared to the same time frame. You'll likely see a decrease at the same point where you see a decrease in productivity
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Globalization. Compensation levels begin increasing in third world countries when ours plateaued. We’ve pulled billions out of poverty at the expense of our workers and wage inflation at home.
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There are both capital and labor inputs to productivity. If a machine (capital investment) is upgraded to produce 10X the widgets per push of a button by a high-school grad, the high-school grad won't see much of a pay increase. The machine is doing the work.
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Imagine a poor person in 1971 walking around with 130000% more computing power in their pockets than NASA had at the time.