A new report highlights the staggering truth about wage inequality in Australia. Here’s what we need to do better | Nicki Hutley
www.theguardian.com
This is a lucky country for many, with enviable living standards. But our wealth is not shared equally
  • sola@aussie.zoneEnglish
    2·
    8 months ago

    Coincidentally I asked Gemmi yesterday to give some modern economic theories where productivity can increase without suppressing wages. It couldn’t!

    In some ways expectations are probably too high as post world war low inequality appears to be a historical anomaly and nothing we are going back too as currently countries are competitive for capital and not cooperative enough to stop capital following exploitation.

    • Lodespawn@aussie.zoneEnglish
      2·
      8 months ago

      I just asked copilot to do the same thing and it listed classical and neo-classical growth theories and the solow growth model …

      • Lodespawn@aussie.zoneEnglish
        1·
        8 months ago

        Also Efficient Wage Theory, Endogenous Growth Theory, Post Keynesian Wage-Led Growth Models, Institutional Economics and Monopsony Models with Policy Intervention

      • sola@aussie.zoneEnglish
        1·
        8 months ago

        I only got the Efficient Wage Theory for Gemini 2.5 pro and from the description I wasn’t convinced of it’s application to reality.

        • Lodespawn@aussie.zoneEnglish
          2·
          8 months ago

          I wonder if a lot of research on this topic is locked behind journal paywalls so the various AI struggle with it. That said AI firms seem to have no aversion to pirating things.