“The automation and AI will only increase such productivity will stagnating wages.”
Looking at wages alone is not looking at the right metric.
The right metric is the difference between wages and cost of living.
If I can buy more with my “stagnant” wages as a result of higher productivity and thus lower costs, I’m better off.
And I think today people are better off than they were a few decades ago.
Even the poorest today has a car, enough food to be obese, flat screen TV, a roof over their head, air conditioning, etc.
“Politics will cry for neo-luddism, increased welfare, increased taxes, etc.”
It’s a coordinated campaign and they’re working very hard at it. See my post #17.
Productivity and technology has allowed women to do 'manly' jobs. It has been the great equalizer in society. Now we will go further down that line with AI and such replacing both.
You can brag about the advances in freezers and 4k tv. But, that has also destroyed tv repairmen. I'd say there isn't many of those left. Ya can say, well we have iphone repairmen now; not the same.
This is just the beginning on such revolutions coming. AI, gene editing, etc.