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Re:How People Get Rich Now by extra88 on Monday April 12, 2021 @06:35PM (#26786032)
The workers that produce 10 times as much today (because of newer technologies, techniques, etc.) don't get paid 10 times as much. Worker productivity has continued to climb, decade after decade, but inflation-adjusted worker pay is basically flat over the same time period.
Re:How People Get Rich Now by ikeboy on Monday April 12, 2021 @07:14PM (#26786320)
This is a myth, and if you look into the statistics of the people pushing this Big Lie, you'll find that they cheat and use different inflation metrics for productivity and for compensation.
Re:How People Get Rich Now by jason0597 on Tuesday April 13, 2021 @05:49AM (#26790141)
Can you show us these Big Lie statistics? Can you post a link or two for further reading?
Re:How People Get Rich Now by ikeboy on Tuesday April 13, 2021 @08:48AM (#26791457)
https://www.reddit.com/r/badeconomics/comments/6rtoh4/produc...

Sure, a bunch of sources linked here.

https://piie.com/blogs/realtime-economic-issues-watch/growin... this is linked there and goes through how the data looks if you correct for all the issues.

Re:How People Get Rich Now by extra88 on Tuesday April 13, 2021 @08:32AM (#26791311)
They probably won't deliver but I will. Here's a top hit "The Productivity–Pay Gap" [0], what I was talking about, from the Economic Policy Institute, a pro-worker, left-leaning think tank [1].

The top google hit for the "myth" is "Debunking a Myth in 1 Chart: Wage & Productivity Growth" [2] from the American Action Forum, a conservative think tank affiliated with a conservative, Republican advocacy group [3]. Basically it claims the original report compared data that aren't comparable. There's also "Why the gap between worker pay and productivity might be a myth" [4] from the American Enterprise Institute, a conservative think tank [5].

I didn't read them closely but part of the methodology in the AEI article used salary and benefits instead of just salary to draw a compensation line closer to productivity. Given that health care is such a huge part of the cost of those benefits, maybe the claim should be that company shareholders are sharing the wealth with workers but that health care costs are so out of control it's eating up all the workers' gains.

EPI response to criticisms, "Understanding the Historic Divergence Between Productivity and a Typical Worker’s Pay" [6].

[0] https://www.epi.org/productivity-pay-gap/ [1] https://en.wikipedia.org/wiki/Economic_Policy_Institute [2] https://www.americanactionforum.org/insight/debunking-a-myth... [3] https://en.wikipedia.org/wiki/American_Action_Network [4] https://www.aei.org/economics/political-economy/the-decline-... [5] https://en.wikipedia.org/wiki/American_Enterprise_Institute [6] https://www.epi.org/publication/understanding-the-historic-d...

Re:How People Get Rich Now by maerF0x0 on Monday April 12, 2021 @07:27PM (#26786414)
but there is just 1 CEO. A 10x sized company has 10x the resources across the board. But it doesn't have 10x _per employee_. That's why the top of the pyramid scales away from the bottom ...