On Sep 22, 2007, at 1:03 PM, Michael Perelman wrote:
But this sort of technology is certain to displace workers, at least in the short run, unless a fall in prices increases real incomes enough ....
The U.S. added over 16 million jobs during the period of the productivity acceleration, from 1995 to 2001. Real wages also rose across the board. The working class has done worse under the recent productivity slowdown. The working class did well during the strong productivity growth of the 1950s and 1960s, and poorly in the slowdown of the 1970s and 1980s. So I really don't understand what you're talking about. Doug
