The Automation Myth

This is something that I've always found odd about how the actual value in the economy is tracked. Specifically, how the stock markets continue to rise despite the decline in productivity. If I was told as a shareholder or private owner of a company, that an hour of labor and inputs are making me mess than I was making 20 years ago I would be upset but that doesn't seem to be reflected in the volumes and prices of the stock markets themselves. Why is this case? Is there something I'm missing?

All in all, I hope someone or some firms figure out how to break through the hurdle to automation in industries where it would matter like healthcare. It would be the first step to correct the economy in my opinion.

> Why is this case? Is there something I'm missing?

It's still always going to be better to have the portion of retail worker's production that goes to profits and shareholders, instead of the portion that goes to the worker, if for no other reason than that you can scale that side.

You're looking at the benefits to the common man of productivity. That stalling doesn't mean productivity has stalled, it just means it is offset by people like Obama stealing more and more of those benefits for himself and his crony friends.

The author espouses this economic knowledge on his twitter feed:

"Never could have guessed from the name that the Communist Party of China wouldn't be all that interested in having a credible stock market."

That's all you need to know about reading this article.

This entire piece is relatively baseless. It's relatively trivial to say "If trends had continued in a straight line, things would be different, but they didn't, so they aren't."

Also, talking about average household income is a waste of time. Talking about average anything when you are talking about the working class is foolish. The average net worth of a household is five times the median.

The demand for automation slowed precisely because the demand for labor plummeted. That's the exact same thing as saying "The demand for oil plummeted because the cost of relative demand for natural gas plummeted."

Reading this article was a waste of time.

> Reading this article was a waste of time.

Agreed.