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The tools that allow me to be more efficient are not only available to me, but to everybody including my competitors. This results in an efficiency jump of the
by Zoepfli 13y ago
The tools that allow me to be more efficient are not only available to me, but to everybody including my competitors. This results in an efficiency jump of the whole industry.
Workers don't benefit that much, because my competitors suddenly have a lot of free time to sell, which drives down prices. Me and my competitors end up working more, until our previous work/life balance and wage level is restored.
End result: Workers are more efficient, but work the same amount, and earn the same amount. Buyers benefit because they get more for less money.
- aidenn0 13y agoExcept workers are also buyers; why can't the workers take advantage of reduced prices to work fewer hours?