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cwperkins | 5 years ago

Do other countries track this metric as well? I'd be curious to study worldwide trends in the quality of work and study the efficacy of policy in trying to reverse this trend.

I'm of the opinion that the future of work is focused on knowledge and creativity, but my worry is that that will leave out a big swath of people. Is Truck Driving an occupation that people want to do, or would freeing up people to do other things be a greater goal? Truck driving is a hazardous occupation, but it also provides opportunity for people that otherwise may have limited opportunity. There will surely be a transition period, but how can we create a large number of opportunities to ensure people are prepared for an economy with more robotics and automation? Maybe space ship building will employ a vast number of people, maybe indoor farming will provide new opportunities in an urban setting and maybe there will be new opportunities with implementing new forms of energy and transportation. I certainly think if you take a long term view the world it has trended towards solving many problems over the course of centuries, but we do need to factor the human element in or there will be another Luddite movement.

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nabla9|5 years ago

Wage share (labor share is the part of national income) have been decreasing in all OECD countries since 70s.

It's related to capital deepening and capital intensity. Capital as a factor of production is increasing and labour decreasing.

If you have both declining wage share and increasing inequality, it's good assumption to make that this is happening everywhere.