Four decades of offshoring and automation promised temporary pain, that gains would trickle down. Every time they seemed to stop one floor above the people promised them, like a lift that works for everyone except the ground floor. At what point do you stop believing it's broken?
https://readuncut.com/the-ai-bet-corporate-america-actually-made-it-wasnt-productivity/
#EconomicInequality #TrickleDownEconomics #StructuralChange #LaborHistory #WealthDistribution #SystemicIssues

AI Layoffs and Wage Compression: The Bet Corporate America Made
AI gave corporate America a way to gut headcount and get applauded for it. An NBER study found only 2% of execs attributed cuts to actual AI, but 60% cut in anticipation of efficiencies that haven't arrived. The bet was never productivity. It was permanent wage compression with better PR.





