Re:Amazon Grows to over 750k Robots, Replacing 100k Humans
by VHRanger on Sunday April 21, 2024 @05:55PM
(#40109575)
FWIW, the wage share declining is a result of many other factors. See here:
https://www.minneapolisfed.org/article/2008/where-has-all-th...
Health insurance and other benefits, household composition have hurt wage share. Not that it didn't decline in real terms for the lower skilled workers, just less than the naive chart you put.
Here is good reading on the topic (maybe my favorite paper of the last decade):
Re:Amazon Grows to over 750k Robots, Replacing 100k Humans
by int_19h on Monday April 22, 2024 @05:11AM
(#40112610)
Your first link points out that income inequality is still growing, however. Which unambiguously means that those at the top are increasingly taking larger and larger slice of the pie.
The "working poor" phenomenon where you can't pay for necessities like rent, healthcare etc. while working full time is the result of declining wage share.
Wage share has steadily declined in OECD countries since early 1970s. In the US since 1960s. https://fred.stlouisfed.org/series/PRS84006173 Wages make smaller and smaller portion of national income while capital share increases.