alt Hacker NewsIf productivity is increasing but not average salary, then by definition the additional wealth is being taken by the owners of capital.
If productivity is increasing but not average salary, then by definition the additional wealth is being taken by the owners of capital.
No it’s not. If the increased productivity is realized by multiple industries, then they all compete on price and the price of their goods comes down. That means the consumers of the product capture the gains in productivity.
Farmers using machinery instead of labor has meant cheaper food for everyone, not rich farmers.