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spideymans | 1 year ago
In the short term, lagging productivity can be masked by debt spending and other measures, but in the long run, the only thing that increases human wealth and material abundance is labor productivity. Everything else is illusionary.
All human societies have sought to increase labor productivity. The first stone tools, agriculture, and nuclear reactors are all productivity-enhancing inventions. Any society that opts out of seeking labor productivity will eventually see their wealth, living standards, and ultimately happiness decline. There is no way out of that trap.
And to be clear, there’s absolutely nothing good about low productivity for workers. All that means is that you’re spending more time working for lower wages, to produce things of lower value.
dbspin|1 year ago
> Any society that opts out of seeking labor productivity will eventually see their wealth, living standards, and ultimately happiness decline. There is no way out of that trap.
I'd argue the reverse - any society that privileges productivity over social reproduction and liveable cities will never be able to tame violent crime, achieve real social mobility or provide a safe and enriching environment for a majority of its citizenry.
spideymans|1 year ago
If the EU thinks that low labor productivity is the path to happiness, going down that path is their prerogative, but long term that path will only lead to ruin. Lagging productivity has never in human history lead to civilizational success. Europe will be outcompeted and eventually dominated by its more productive peers.
Arn_Thor|1 year ago
Just patently untrue. The more productive you are the more work your boss will send your way, while walking away with fatter margins. If he can. Which is where EU regulation comes in.
Europe’s rules govern the balance between capital owners and labor. It’s far from perfect but it has resulted in fairly stable and happy societies. (At least apart from certain external factors)
Now there is of course nothing wrong with productivity. It is, as you say, very good in many ways. But you cannot look only at a society’s productivity metrics to judge success-and my by success I mean happiness, because that is my goal. Look at happiness in the US vs Europe for example. I know where I’d rather live.
The optimal is not always the best for people.
armada651|1 year ago
Due to the demands for constant economic growth increased productivity does not actually result in more free time, just more economic output.
spideymans|1 year ago
The average American now spends just 10% of their wages on food. That effectively means, just 10% of Americans’s working life dedicated to food cultivation. That’s the result of economic productivity.
If an American is happy existing at a subsistence level, they’re free to slash their working hours to a tiny fraction of the average person. However, humans have unlimited material desires, which tends to keep us working.
iAMkenough|1 year ago
In a profit-driven business, the more productive the workers are, the more work you can throw at them. Free time doesn't enter into the equation unless business owners need to manage a compliance issue regarding labor regulations.
StrLght|1 year ago
Right, there are so many countries in the world where increased productivity led to 4-day work week. In fact, I could count these countries on the fingers of one hand.