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I remember when I was young their was a popular belief that technology would make it possible for people to have 20 to 30 hour work weeks, and ample vacation time. The opposite happened.

Rudy1962 9 Mar 23
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1

In our post-Reagan world, in the U.S., at least, the rich pay far less in taxes than they once did, wealth is concentrated, priorities of production have evolved, and there are also many more people on the planet. I don't know which factors are the most impactful, but they are factors. I strongly suspect that bat-shit Christianity also played a role in alarming the conservative base about Humanistic social changes that religious leaders would see as potentially reducing people's sense desperate "need for God." War on Poverty was humamistic, to be sure, and automatically a target of mistrust from the religious.

1

Absolutely true

bobwjr Level 10 Mar 23, 2019
2

But Reagan happened and instead of the wealth from better labor being rewarded, it all went to the top

glennlab Level 10 Mar 23, 2019
0

that "popular belief" was based on a rather errant assumption - that demand would stay constant with no tech improvement demand. very errant.

JeffMesser Level 8 Mar 23, 2019

Call me slow but can you expand on that?

@Rudy1962 no no it's cool. if you're making product A and it takes 40 hrs per week at X amount of technology then they say increasing the tech can knock time off of production. so you're trying to decrease the variable as time for production and you're assuming demand is constant. but what really happens is that 40 hrs is a sunk cost unless you're gonna cut employees so your improvements will result in bonuses to profit, infrastructure, and product quality. quality doesn't ratchet. once you jack that up there's no going back. And if that increases demand as it should then you have an additional drag on labor again despite the tech advance. It happens all the time in business empirically. Unless you're retooling a line you divide up those savings among profit and R&D and process costs. You'll often see a company saying they are giving bonuses vice making improvements because improvements cost even more money down the line.

@JeffMesser ok. Thanks

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