I have a hard time believing this thesis that modern technology doesn't help productivity. Think about CRM software. Could you imagine having to go through hundreds of filing cabinets and massive systems just to get information about a customer? What about 100 SDRs doing this at the same time, every day? How about trying to meet with someone on the other side of the country? Or having to hire hundreds of assembly line workers to do the job of a single robot?
No, we are more productive than ever before. But the BENEFITS from these enormously productive technologies only seem to go to the richest of the rich, which is why we live in one of the most unequal times since the gilded age. I hate this term but I honestly think it's just "FUD" put out by these uber-rich people, this sentiment of "oh the economy isn't becoming more productive". It is most definitely becoming more productive, but the only benefit Joe Average sees from that is slightly lower consumer prices (which of course is offset by skyrocketing asset prices).
IIRC the only way society got out of this gini-out-of-the-bottle situation last time was through multiple cataclysmic wars, a great depression, and trust busting, so I'd be lying if I said I wasn't concerned.
No, we are more productive than ever before. But the BENEFITS from these enormously productive technologies only seem to go to the richest of the rich, which is why we live in one of the most unequal times since the gilded age. I hate this term but I honestly think it's just "FUD" put out by these uber-rich people, this sentiment of "oh the economy isn't becoming more productive". It is most definitely becoming more productive, but the only benefit Joe Average sees from that is slightly lower consumer prices (which of course is offset by skyrocketing asset prices).
IIRC the only way society got out of this gini-out-of-the-bottle situation last time was through multiple cataclysmic wars, a great depression, and trust busting, so I'd be lying if I said I wasn't concerned.