> The key point GP is highlight is that productivity has basically decoupled from salaries since the 1970's, i.e. we are all collectively producing more value whilst collectively getting payed less in proportion to the value generated.
This thread is about Spain (which certainly has a lot of economic problems along with the rest of the EU), but wasn't that research mainly about the US?
My impression is some but not all of the cause is because "productivity" numbers are very confused because of how much exponentially more efficient computers have gotten. If you measure in 1970s computers, someone building a PC in 2020 has a million times more productivity.
This thread is about Spain (which certainly has a lot of economic problems along with the rest of the EU), but wasn't that research mainly about the US?
My impression is some but not all of the cause is because "productivity" numbers are very confused because of how much exponentially more efficient computers have gotten. If you measure in 1970s computers, someone building a PC in 2020 has a million times more productivity.