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.
Forgot to say: when you take GDP and divide it by the population you get mean. When we talk about wages, we’re talking about median wages. That’s where the difference lies
Forgot to say: when you take GDP and divide it by the population you get mean. When we talk about wages, we’re talking about median wages. That’s where the difference lies