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For the average job, how many times more has production capacity in relation to wages increased since the ID?

For example If a factory in 1850 with 100 employees can produce 1,000 knives a day, each earning the 2011 equivalent of $10,000 a year, what would these numbers be for a factory with 100 employees in 2011?

It varies greatly by country and shows up most clearly in the income inequality metrics. Thus the U.S. has high income inequality because (among other factors) workers don’t benefit as much from higher productivity:

http://www.nytimes.com/2006/08/28/business/28wages.html

http://en.wikipedia.org/wiki/Real_wage

In Sweden, they do

http://lanekenworthy.net/2010/11/17/when-is-economic-growth-good-for-the-poor/

However, your figures of $10K per worker in 1850 is way off base. In 1850, the real per capita GDP in 2000 dollars was less than $2,500 (and the average overestimates what the typical worker earns)

http://measuringworth.com/graphs/graph.php?year_from=1850&year_to=2009&table=US&field=GDPCP&log=

Even high school dropouts do better than ten times that now.

http://en.wikipedia.org/wiki/Household_income_in_the_United_States

(I haven’t found long term median income data, which would be more specific to the question and hence more interesting)

So the bottom line is that almost everyone in the developed world is much better off than most people were back in 1850: they live longer, work less, have better food, live more comfortably (hot water, central heating, etc.) but the rich have benefited more than the workers, especially in the U.S.

So you can’t say that the workers haven’t benefited greatly, but you can also argue that they are being taken advantage of, at least in the U.S.

Legal Lines Tip – Lost Wages 8

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