alt Hacker NewsNo 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.
Replies
alexashka • last Monday at 5:23 PM
Right, because governments do anti-trust and ensure fair competition. We all agree.
When your argument boils down to discussing fantasies in a fantasy world, you have a bright future as an economist indeed.
➕ show 1 reply
This is possible in theory.
I think that if we look at inflation-adjusted productivity, and inflation-adjusted average income, then that would indeed prove increasing inequality, right?
I believe the chart in this link is adjusted by inflation. Showing overall the same trend:
https://www.epi.org/productivity-pay-gap/