tech advancements are converted to company profits rather than worker profits.
The problem is ownership.
When the capitalist owns the technology that bring an increase of productivity then the capitalist “is entitled” to 100% of the “extra” profit generated by the increase of productivity. Because the workers are not able to output any excess by their own means the capitalist doesn’t believe they deserve anything extra which is why we’re stuck in this shit situation where wages seem stagnant while profits and productivity seem to always increase. :(
The problem is ownership.
When the capitalist owns the technology that bring an increase of productivity then the capitalist “is entitled” to 100% of the “extra” profit generated by the increase of productivity. Because the workers are not able to output any excess by their own means the capitalist doesn’t believe they deserve anything extra which is why we’re stuck in this shit situation where wages seem stagnant while profits and productivity seem to always increase. :(
You found a long wording there for “the means of production” :)
It was intentional so I didn’t scare anyone with spooky scary Marxist language lol
well - the association was instant for me, and I never even read Marx, just a few wikipedia summaries ^^
Maybe he’s a bee in Rubacava