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So now you're taking a definition that axiomatically assumes the answer you're looking for? If the marginal product of labour is 0 because machines are doing all the work, the wages offered would logically be 0 but the productivity of the corporation or country would be enormously high! This is the common-sense conclusion, bereft of the economic jargon. If we take Xiaomi's automated phone factory as an example for the future of production, the value-adding is coming from the machinery, not the human workers because they aren't doing anything since they're not even there. Maybe there are a few engineers who fix whatever broken machinery the AI can't handle. They will not be earning a substantial portion of the returns from that factory. The paradigm of productivity you're invoking does not apply to the systems I'm describing, like how Newtonian gravity does not apply at high speeds.
OK, so the EPI graph is wrong and misleading in showing that wages haven't kept up with production. They're only counting production and non-supervisory roles... the easiest jobs to automate. And they ignore the massively overpriced non-wage healthcare that workers receive from their jobs as well, horrible! And everybody ignores the people who were automated out of work entirely, that falling male participation rate...
So what's really going on is that inequality between workers (and the no longer working) is rising massively, presumably due to technology substituting for human labour in value-creation and a shift towards highly skilled, highly renumerated human labour. This doesn't really counter my main point.
I don't think you understand me. I am not a leftist. I have invested a large amount of money into NVIDIA, Tesla, Lockheed Martin and various cryptocurrencies. I believe in the market system. But I do not trust that it has my best interests at heart.
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