Technology and automation has led to much greater efficiencies and output for every human in the workforce over the last 50 years. How come this hasn’t led globally to less working hours or a shorter work week for the average worker?

Question

EDIT: Replace ‘every human in the workforce’ with ‘most people’. I agree efficiency has not been gained equally across all professions.

In: Economics

Answer 1

The most obvious reason is that productivity gains accrue to owners, not workers. Additionally, not all sectors of the economy benefit equally from productivity. Agriculture and manufacturing do, medicine and education don’t. Medical alone is a huge chunk of the economy that barely existed 100 years ago when there just wasn’t much medicine could do for you. We have to pay for it though.