Of course it's the new technology that causes this and not economists running monetary experiments, that keeps wages stagnant. (who would expect the purchasing power of money to drop when increasing the money supply!?)
For the past thousands of years we've seen incredible productivity gains thanks to technology (the wheel, the loom, the steam engine!), and purchasing power always kept increasing across the population.
On the other hand, we've been running this kind of monetary intervention for a very short while, at an accelerating pace, but no way this is causing an increasing pay disparity.
For the past thousands of years we've seen incredible productivity gains thanks to technology (the wheel, the loom, the steam engine!), and purchasing power always kept increasing across the population.
On the other hand, we've been running this kind of monetary intervention for a very short while, at an accelerating pace, but no way this is causing an increasing pay disparity.
This time it must be the AI.