This is one of the funniest things I have read in a long time–used to be true, but hasn’t been true since 1980s.
From The End of Prosperity, How Higher Taxes Will Doom the Economy–If We Let It Happen by Arthur B. Laffer, Stephen Moore and Peter J. Tanous published in 2008.
“What happens to the wage rate when each person works with more capital goods? Because each worker has more capital to work with, his or her marginal product [or productivity] rises. Therefore, the competitive real wage rises as workers become worth more to capitalists and meet spirited bidding up of their market wage rates.”
This might happen in a free market, but employers collude to hold down wages. Competitive wages in today’s economy translates to “as little as possible.”
Trump must go