Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
Edit: Pretty much what it says. It’s more detailed than that but yeah. Labourers get less, more value is attributed to capital (buildings, land) and collected by the rich.
Let me guess:
It’s because all the money goes to billionaires.
Edit: Pretty much what it says. It’s more detailed than that but yeah. Labourers get less, more value is attributed to capital (buildings, land) and collected by the rich.
Yep without even reading the article I was going to guess wage theft and billionaires.
Wage theft is not merely being underpaid relative to the work you do. It’s actually not paying someone who worked
It’s both and more.
Wage theft as only “not paid what was owed according to current law” is already the biggest form of theft and the least prosecuted.
Please don’t help perpetuate capitalist exploitation by blurring it with the “value theft” inherent to capitalism