4.06.2004
Robots and the concentration of wealth
The article Robotic Freedom states that robots and automation will turbocharge the concentration of wealth. This article from the NY Times provides more evidence that this is exactly what is happening: We're More Productive. Who Gets the Money?. It states:
- American workers have been remarkably productive in recent years, but they are getting fewer and fewer of the benefits of this increased productivity. While the economy, as measured by the gross domestic product, has been strong for some time now, ordinary workers have gotten little more than the back of the hand from employers who have pocketed an unprecedented share of the cash from this burst of economic growth.
What is happening is nothing short of historic. The American workers' share of the increase in national income since November 2001, the end of the last recession, is the lowest on record. Employers took the money and ran. This is extraordinary, but very few people are talking about it, which tells you something about the hold that corporate interests have on the national conversation.
For numerous examples of this unprecedented concentration of wealth at work, Click here.
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