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by eru 353 days ago
> For now, that speed-up just looks like a win because it’s novel, but eventually the speed-up will be baked into people’s expectations.

It will still be a win: the rewards for the new productivity have to go somewhere in the economy.

Just like other productivity improvements in the past, it will likely be shared amongst various stakeholders depending on a variety of factors. The workers will get the lion's share.
2 comments
bluefirebrand 352 days ago
> rewards for the new productivity have to go somewhere in the economy

Unless it goes to me I'm not entirely sure why I should care

I'll keep doing things the old way thanks, unless I personally get some benefit from it

"You are more productive but compensated the same" just shows how many of you are suckers

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eru 352 days ago
Compare and contrast https://pseudoerasmus.com/2017/10/02/ijd/
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layer8 352 days ago
> The workers will get the lion's share.

This doesn’t seem to be supported by history.

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eru 352 days ago
Labour share have GDP has held roughly constant throughout the ages, even as we saw massive productivity increases since the dawn of the industrial revolution.
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layer8 352 days ago
How does that equate to the workers receiving the lion's share of the massive productivity increases?

Statistics like https://media.equality-trust.out.re/uploads/2024/07/incomedi... suggest that since 1970 the top 10% have profited more in their income than the bottom 50%.

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eru 352 days ago
You are comparing apples to oranges here. These are two completely different things.

Image the labour share of GDP could be a constant 100%, but perhaps the top 1% of workers (eg CEOs) get all the rewards and the other 99% get nothing.

(That's not meant to be realistic, just to illustrate that you can have a very unequal distribution despite a high or even growing labour share of GDP. No opinion expressed on whether the statistics you cite are any good.)

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layer8 352 days ago
That means that some (few) workers may be getting the lion's share (but note that "income" isn't limited to workers, so it may also be none), not workers in general. People are interested in the latter, not the former.
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