Impact of ICT on the Productivity-Compensation Gap: A Study on Technology, Works, and the Role of Capital

Researchers have observed that the growth of hourly compensation in the U.S. has lagged behind the labour productivity growth since 1970 (Fleck, Glaser, & Sprague, 2011). The disparity between productivity and compensation, which is known as the productivity-compensation gap (Mishel & Gee, 2011), suggests that workers do not benefit directly...

How and under what conditions would technological revolution create overall societal benefit? ICT, productivity, and capital: Lessons from economic theories and perspectives

With the advent of smart machines, ICT revolution is moving towards a relatively unknown territory. Economic theories play important role in shaping the direction and effect of this technological change to the lives of everyone. The acceleration of unemployment and dualism which the ICT revolution is expected to create has raised concerns...