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by rand_r
487 days ago
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This is a great point. Life is tough because we are all competing in a game. Tweaking the rules of the game so that each basket is worth more points doesn’t make the game easier for any player. From Henry George: > Now, to produce wealth, two things are required: labor and land. Therefore, the effect of labor-saving improvements will be to extend the demand for land. So the primary effect of labor-saving improvements is to increase the power of labor. But the secondary effect is to extend the margin of production. And the end result is to increase rent. > This shows that effects attributed to population are really due to technological progress. It also explains the otherwise perplexing fact that laborsaving machinery fails to benefit workers |
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I disagree, the reason why workers don’t benefit is because they are mostly paid to put hours in. Owners claim the gains of better machinery because they reason it is a capital investment at the business level.
Really I don’t see why see why this is perplexing. What is really perplexing is that some economists thought that productivity gains would somehow accrue gains for workers.