A view of life and commercial real estate from Newark and Licking County, Ohio
Saturday, March 5, 2016
growing the pie....................
"... the US has done well because we have not wrangled as much as the rest of the world over distribution issues, and have left a lot of room for people to gain a lot from their own productivity. That has led to a lot of wealth, and in general, a growing pie for everyone to benefit from.
Productivity goes in waves, and labor plays catchup with capital after technological progress. We have seen people redeployed from agriculture and servanthood/slavery in the past 150 years. We will see them redeployed from manufacturing in the next 100 years. They will provide services to their fellow men, should there continue to be peace and tranquility, allowing labor income to catch up with that of capital."