So we should be able to get by with less labor, right?…
Sure. Or everyone could get more stuff for the same amount of labor.
Suppose your boss told you, “You’ve been doing a great job at work. We could give you 10% raise, or we could keep your paycheck the same and cut your hours by 10%.” I don’t know which you would choose, but most people would take the raise.
Sure. Or everyone could get more stuff for the same amount of labor.
Suppose your boss told you, “You’ve been doing a great job at work. We could give you 10% raise, or we could keep your paycheck the same and cut your hours by 10%.” I don’t know which you would choose, but most people would take the raise.