IMF research flags technology’s role in falling labour share of income
Falling cost of investment goods may be encouraging companies to replace labour with capital
The declining cost of investment goods is one of the main driving forces behind the decline in the global labour share of income, according to a research paper published on July 24 by the International Monetary Fund.
Why Is Labour Receiving a Smaller Share of Global Income? Theory and Empirical Evidence shows how the wages and benefits of workers as a percentage of national income have been falling in advanced and developing economies alike in recent decades.
That share declined in advanced
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