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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (82417)7/30/2007 5:31:21 PM
From: GraceZRead Replies (1) of 306849
 
I think what people miss when they say American workers aren't benefiting from increases in productivity is where does the increase come from, does it come from the worker who is better educated, who employs more advanced methods and thus able to produce more or does it come from a workforce whose skills are deteriorating where capital equipment is making up the difference. For many years capital equipment has been closing the education gap in the US. As machines get smarter a large part of the workforce is devolving.

Some capital equipment has so much intelligence built into it that you can put a very low skilled worker on it and still increase productivity. If this is the case, profits will be used to increase investment in equipment, not people, so the gains will flow naturally to capital not workers. Of course, whoever does these calculations isn't counting the outsized gains that go to the "workers" at the top....they don't see them as "workers".
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