CPI (a measure of living cost--note that living standards increase)-adjusted hourly wages have increased 8% in the past decade. That's not that good, but we're looking at one of the richest countries in the world.
But PPP (measure of purchasing power) adjusted GNI per capita in the U.S. has increased by 25% in the past decade.
If you look at India (where huge portion of the world lives), PPP adjusted GNI per capita has doubled from 2003-2013. You'll probably retort "that's just numbers", but I live in India ;)
Similarly PPP adjusted GNI per capita has increased greatly in most poor countries.
> This is the age we live in, profit maximization over everything else.
In which age people don't want more money? Corporations are owned by shareholder who are people who want to make more money like everybody. Obviously, they will profit maximize.
> If the only jobs available are low paying with terrible conditions, then that's not a society you want to live in.
You misunderstood my point; I mean that automation increases real wages thus creating jobs.
> Its convenient to hide behind the economic theories
Haha, the good ol' economist bashing.
Those stupid eCONomists with their statist-tricks who just play around with graphs. /s
Kind of ironical when you hear HNers talk about supporting science w.r.t climate change but when it's economics suddenly many are the opposite. I guess people only support science when it confirms their priors.
Economics is a real science just like physics, mathematics, etc. Papers are published with statistical rigor and empirical testing. Indeed, economics is complex and counter-intuitive because the world isn't simple.