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

Because then businesses would have to pay people for productivity, not hours. Hours work out more predictable and cheaper.

Answer 2

The endless money printing from the federal reserve has been winning the war on technological deflation. The wage gap is wider and the average worker can afford less than they used to. Basically you’re poor as shit and stuff is dirt cheep. Just look at the price of assets that are less affected by technological deflation like real estate and precious metals.

Answer 3

Drops in working hours have historically been obtained through collective bargaining, which has declined over the past 50 years.

Answer 4

The gains have almost entirely gone to those at the top. Research the increase in ceo pay, relative to average worker pay, over the last 50 years and there is your answer.

Answer 5

Because business owners feel that if you reduce working hours (without losing efficiency mind you) and not cutting pay you are somehow robbing them. They need to feel that you are working hard for your pay.

Answer 6

Simple answer is the higher efficiency is directed towards higher profits for the people at the top rather than easing the workload for the people at the bottom. When the workload becomes smaller due to new technology you just fill the extra time with extra work