That's a bold claim, which industrial process apart from computing and lighting has efficiency improving anywhere near 300%?

Gains have been marginal in air travel,, oil extraction, heating, steel, food and concrete production. Many of these are near the physical limits of possible efficiency.

I apologize; I was misremembering the graphs. It's actually not quite a 300% increase: https://www.counterpunch.org/2015/01/15/40-years-of-economic...

It's just over 250% increase in productivity since 1979, while real wages have risen a fraction of that.

I can't eat productivity improvements and neither can my parents. I know that this sounds absurd but that is the reality we live in.

No, obviously not. But the point is that there is plenty of productivity to go around—the benefits of it just aren't available to most people.

So, if we were to reduce the ability of the people at the very top to siphon away 99% of the productivity gains we've seen over the past 40 years, we would have more than enough food, clothing, and shelter for everyone, with enough margin that people could also work shorter hours without losing the ability to provide for everyone.

The cost of that is that a very small percentage of the population can no longer have massively extravagant lifestyles.

That graph is dramatic. I see what you mean, we are talking about economic productivity, which is fair enough.