Earlier quoted context omitted.
Also the wealth of the average worker has been stagnant since the 70's - computers, the internet, etc came and brought tons of wealth, and didn't raise the standard of living. I've never thought about computers that way - they got here, and didn't make everyone's lives better - they just accelerated wealth concentration in the top 1%.
This is true only if you look narrowly at developed countries. If you look more broadly, a tremendous number of people have had huge increases in income in places like China. That might even be related (i.e., wages for workers are being depressed in developing world as workers see competition from other workers in developing nations). And capital owners benefiting from increased availability of labor. TBC, agree that…
Look at India, they don't come close to China if you compare how the standard of life improved for the masses.