Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
Now compare wages vs inflation, and wages vs GDP. GDP of developed countries has climbed dramatically since the 80’s, while wage growth has slowed to a crawl relatively.
One must ask themself: where did all the money go?
Now compare wages vs inflation, and wages vs GDP. GDP of developed countries has climbed dramatically since the 80’s, while wage growth has slowed to a crawl relatively.
One must ask themself: where did all the money go?
It sure looked like it chartered a private jet to Venice Italy to rent out entire city blocks and get married in utter opulence, to me.