Wage stagnation in the era of digital revolution

by **Rocky** Sun 12 Nov 2017, 2:38 am

Rocky: Admin Assist; Posts : 280719
Join date : 2012-12-21

Post n°1

Wage stagnation in the era of digital revolution

by Rocky Sun 12 Nov 2017, 2:38 am

Wage stagnation in the era of digital revolution

Author: [You must be registered and logged in to see this link.]

12/11/2017 12:00 am

[rtl]After a period of exhaustive activity, without hesitation, my colleague Salem continued to ask me: How do you explain to me, economist, that 69 percent of adults in the United States currently save less than $ 1,000 and 39 percent of them Their savings are zero in a country where digital technology flourishes and leads the Fourth Industrial Revolution. After that, Salem smiled faintly and insightfully, watching the details of the digital revolution and then leaving me like a ghost melted in the dark. He spoke to himself in silent silence and restored confidence and clarity of mind. I did not understand what was happening in the world. Capital of the day is average Return on capital is the largest rate of economic growth in industrialized countries !!. Distribution of wealth

I have said in secret that there are two inequalities in the distribution of wealth globally that have not been touched by Salem. The first is attributed to the French writer Thomas Picetti in his famous book Capital in the 21st Century, published in Paris in 2014, which attributed the inequality in the distribution of wealth to the phenomenon of growth The ROE and its concentrations are more than the growth in the gross domestic product (GDP) due to the imbalance in the distribution of income and the increase in global inflation due to the strength of the global rent phenomenon.
The second contrast, the dark side of inequality, is that digital technology is a harbinger of misery and misery and will lead the world to a future in which high wages are limited to educated or advanced-educated elites who are alone without other workers who will be able to get jobs. The American writer Tyler Cowen describes in his 2013 book The End of the Middle Class: America's Struggle Over the Great Depression, describing how America devoured its fruit from the nearby branches that have fallen over recent history or rather: how development results were captured and confiscated from the middle class.
Here Tyler Quinn comes close to the conclusions of Thomas Picti, who recognized that the current inequalities in incomes cast a shadow over vast wealth inherited by non-wage earning forces.
However, the economic history of the machine age suggests that the wages of workers in England and the United States have eventually improved by about ten times in the last 200 years (excluding the inflationary effect).
It was as if technology in the pre-digital era was responsible for the increase in wage payments, while today digital technology was responsible for rising unemployment, low wage levels and stagnant rates.
And here my colleague Salem will wonder: how does the world face the revolution of inventions and the explosion of digital technology on jobs and wages and the transformation into a future with a deep economic gap between the educated digital elite and the rest of the people?
Here is the answer by economist James Bessen in his Yale University book in 2015: "Learning at Work: The Real Relationship between Innovation, Pay and Wealth." As James Bessen points out in his book above, stressing that the pattern of wages in the mechanism of polarization or transmission to the elite high education or skill in the era of the current digital revolution is something that has passed the world in the era of the industrial era, the age of mechanization.
The world has long gone through the failure of advanced technology as a practical application of knowledge to provide substantial benefits to the working class. For decades, industrial wages have remained stagnant despite the fact that the technological technological revolution at that time has doubled the productivity of one worker. Growing profits

Have generated huge wealth but have gone into the pockets of investors and senior managers and a few skilled workers, the profits grew and inequality increased without giving the workers many gains, but in spite of that began to reverse this trend, taking payment of wages for unskilled or less educated workers are increasing Employees are receiving a fundamental share of the benefits of new technology because of their on-the-job education, regardless of the strength of trade union organization and the role of trade unions and social organizations in ensuring fair distribution and ensuring minimum wages.
Thus, there is a striking gap between the theory of Thomas Picti 2014 in his book Capital in the Twenty-first Century (which attributes the accumulation of wealth by the few because of strong tendencies in the global economy as we mentioned in the negative and the consequent denial of fair income and stripped of unskilled or ordinary workers) Author James Bessen, who attributes the accumulation of wealth to the impact of technology on the income of ordinary workers in generating income and wealth inequalities. James Pissen argues that wage stagnation in times of high profits due to technological transformations and sharp shifts contributes to the generation of unfair wealth.
However, the accumulation of wealth does not necessarily reflect wage growth. In the industrial past, technology has stimulated wages even in times of increasing inequality. But the question remains: How does technology affect normal labor conditions?
There is a mixture of technology and inventions on the one hand and skill and learning on the other. Modern technology today needs something larger than the invention itself to be designed, constructed, operated and maintained. It has been observed that many technologies have developed outside the classroom in colleges and universities but during the work!
As the economic history of the industry indicates that the skills of the workers have gained and developed during the work and not necessarily in the classrooms, which means that the workers have obtained their knowledge and practical skills through the combination of formal training and experience, which generated a lot of technical knowledge at work and in accordance with the principle of during work).
Regular and non-formal experiences allowed workers to acquire new skills and technological knowledge. In the earlier mechanical age, in-service skills for low-school workers allowed for middle-class wages. At the beginning of every new technological revolution, the rehabilitation and training of thousands of workers becomes a complex proposition in its early stages. Early technological knowledge is highly fragmented and uncertain. To be absorbed as a new record power, it takes time. Life models

Therefore, their early acceptance of life models and patterns makes university education a very difficult pre-qualification. Even the labor markets themselves are not willing to accept those who invest their efforts in training. In order to establish market institutions and achieve effective training, it takes more than a decade to Ordinary workers benefit from their skills, which trade in modern technology and raise wages in proportion to productivity. Digital technology has suddenly entered organizational entities and clusters that combine leadership, innovation, production, and skill-raising, and are now confronted with: disruptive, creative change.
It is a combination of managerial leadership, innovation and talent to generate new products and new markets within an eco-economic system. Creative radical change is now a powerful force of productive technological clusters that are concentrated in geographical areas such as the Silicon Valley in America and spread around the world. In new technology, especially digital ones, which today earn huge profits. Technology and work

Although technology does not replace work but generates demand for new jobs with new skills, the majority of the workforce was not equipped for modern technology, and universities are not the only bastion of these skills, as many believe, A recession, unemployment or low wages at a time when employers complain that they want only a very limited number of highly skilled workers.
Countries have differed in their desire to provide workers with incentives to obtain technical knowledge at work and to enable the economy to achieve overall gains to achieve economic strength. Volatility has allowed to respond to technological cycles and the stagnation of wages for some nations by using modern technology that has adopted policies that have led to development High levels of wealth and reduced inequality in incomes and wealth. While others benefited less. For example, the United States was one of the world's most technologically advanced countries in the pre-digital era, through wide-ranging educational and training programs. America was the first country in the world to adopt effective policies To face the technological recession.
US education and training policies have provided a qualified workforce that has fostered the demand for technology to combat technological unemployment. However, the creation of productive clusters in the present digital age and the birth of today's radical radical change as promised by large-scale technological productivity forces have raised the problems of wage stagnation Once again, the depth of the so-called technological cycle has changed after policies have changed to the worst, preferring to establish companies and private interests that are looking for limited skills instead of advancing advanced technologies and mating them with a degree of reducing inequality by Improving wages for ordinary workers through skills development programs and in-service education.
In conclusion, the combination of stagnation of wages and the increase in profits in the city is in dire need of government policies that help develop the broad-based technical skills. These policies promise one of the economic programs to achieve equal access to wealth and reduce internal and social disparities in two ways: first, to develop the skills of ordinary workers, And the second is the drawing and development of government policies facing the technological cycles and narrowing their paths. The promise of such government programs is a new means of economic policy aimed at improving the distribution of incomes and wealth by reducing the duration of the course And the stagnation of wages to which the global economy is exposed.
[/rtl]

[rtl][You must be registered and logged in to see this link.][/rtl]

Established in 2006 as a Community of Reality

Established in 2006 as a Community of Reality

Established in 2006 as a Community of Reality

Wage stagnation in the era of digital revolution

Wage stagnation in the era of digital revolution

Wage stagnation in the era of digital revolution

Similar topics

Similar topics

Latest topics

World Headline News

Board Rules Click Below

Most active topic starters

Top posters

Top posting users this week

Top posting users this month

Disclaimer

Keywords

Search Query

Display results as : Posts Topics
Tags
Advanced Search