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by jacques_chester
5533 days ago
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If you look at industries with an irreducible reliance on labour (eg medicine, law) then productivity has surged through the accumulation of capital. Programmers today can achieve in minutes what used to take years, because of the accumulation of software and faster hardware. This leads to the paradoxical situation that as a percentage of GDP, those irreducible-labour sectors begin to loom larger and larger. |
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