patrick.net

Quigley says

There are about 370 million people living and eating in America. According to labor rolls, about 64% of them work. So that means we have so much being produced that everything available is produced by about half the population. The rest are lawyers.

That's why a company like Apple has about 10x more employees outside the US than in the US and we have a large trade deficit.
This has nothing to do with technology. More like semi-slave labor externally through trade in this case, but also internally through immigration.
Everyone else - who isn't a fat cat - aligns with that standard.

HappyGilmore says

No, I've explained it twice now. Look up the law of diminishing returns:

I've already answered this answer: if all we have now are minor enhancements, then why the hell does it still have a large impact on labor? As large as in the past? You're not saying.

Plus you assume technological innovation has stopped, which makes no sense at all.

Heraclitusstudent says

if all we have now are minor enhancements, then why the hell does it still have a large impact on labor? As large as in the past? You're not saying.

First off--I'm not saying minor enhancements. I'm saying that the productivity gains are not as drastic with some of the changes now. They still could be major changes.

But to answer your question, it's because all the large labor displacement in the past hasn't been eaten up yet. Even so, unemployment is down and wages are up.


Heraclitusstudent says

Plus you assume technological innovation has stopped, which makes no sense at all.

I do nothing of the sort. Of course technological innovation continues. You assume that innovation is a straight line, which is ridiculous.