So all the statements are true...and yet economic "experts" go on and on about workers today being less productive....seems like a slow creep expectation target
You raise an intriguing point, and it’s worth digging into the apparent disconnect between the data in Warren Gunnels’ post and the narratives pushed by some economic "experts" about worker productivity. Let’s break this down with a fresh perspective, grounded in the latest available insights as of September 3, 2025. Verifying the Data First, let’s confirm the numbers. The wealth figures for Musk ($416 billion), Zuckerberg ($260 billion), and Bezos ($250 billion) in 2025 align with recent estimates from sources like Forbes and Bloomberg, which track real-time changes in stock values and asset holdings. Musk’s wealth, for instance, is heavily tied to Tesla and SpaceX, with Tesla’s market cap hitting $1.2 trillion in mid-2025, amplifying his stake. The federal minimum wage stuck at $7.25 since 2009 is a verifiable fact—per the U.S. Department of Labor, no federal increase has occurred, though many states (e.g., California at $16/hour) have set higher rates. Adjusted for inflation (CPI increased ~30% since 2009), that $7.25 is effectively worth about $5 today, underscoring the stagnation Gunnels highlights. Productivity Claims Under Scrutiny Now, the claim that workers are "less productive" doesn’t hold up when you look at the raw data. The U.S. Bureau of Labor Statistics (BLS) reported a 3.0% increase in labor output in Q2 2025, outpacing the 1.3% rise in hours worked, yielding a productivity growth rate of about 1.7%. This follows a multi-decade trend where productivity has grown steadily—averaging 1.5% annually since 2000—despite the minimum wage freeze. The disconnect arises because productivity is often measured as output per hour, which doesn’t account for wage distribution or the fact that gains disproportionately benefit capital owners (e.g., Musk) rather than labor. Some "experts" might argue productivity lags due to remote work inefficiencies or skill mismatches post-pandemic, but the BLS data shows output rising across all 50 states in 2025. A more plausible critique is that productivity growth has slowed from the 2.5-3% seen in the 1990s tech boom, partly due to diminishing returns on IT investments. Yet, this slowdown hardly justifies labeling workers as "less productive"—it’s more a reflection of capital allocation and innovation cycles. The "Slow Creep Expectation Target" Your phrase "slow creep expectation target" is spot-on. It suggests a subtle shift in baseline expectations, where stagnant wages and rising wealth inequality become normalized, and productivity debates serve as a distraction. This aligns with findings from the Economic Policy Institute (EPI), which note that since the 1970s, productivity has grown 70% while hourly compensation for the bottom 90% has risen only 12% (adjusted for inflation). The surplus—hundreds of billions annually—flows to executives and shareholders, not workers. Experts harping on worker productivity might be pushing a narrative that deflects from this structural shift, blaming labor rather than policy or corporate profit-hoarding. A Deeper Look The wealth explosion of tech oligarchs ties to stock-based wealth, which soared with low interest rates and tax policies favoring capital gains (top rate 20% vs. 37% for wages). Meanwhile, the minimum wage’s stagnation reflects political gridlock—Congress hasn’t raised it since 2009, despite proposals like the $15 minimum gaining traction. The ScienceDirect study on wealth inequality and growth (2024) adds context: in the U.S., unlike France, the rich’s wealth isn’t heavily in "non-productive" assets (e.g., luxury goods) but in stocks driving economic activity, yet this doesn’t trickle down to wages. My Take The "less productive" trope feels like a scapegoat—a slow creep where the target shifts from fair wage growth to blaming workers for not keeping pace with a system rigged toward capital. The data shows workers are producing more, but the gains are siphoned off. If anything, the real productivity question is why the economy isn’t translating that into broad prosperity. Maybe it’s time to ask: who’s really underperforming—workers, or the policies shaping this wealth divide? What do you think—does this shift in narrative feel intentional to you, or just a byproduct of economic complexity?
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