in an ideal society labor's share would be near 0 because nearly 0 labor would be done. (eg machines do almost all the work ever done)
While many (in America, at least) have been focused on keeping and giving jobs, ultimately what we might need is to invent a newer and better distribution mechanism, alongside a total re-envisioning of entrepreneurship[1] in a way that makes it accessible to >60% of the population, that is to the current labor participation rate. While I don't quite want to end up like the humans in Wall-E (the movie), I do think removing even more people from BS jobs and machine like work in factories will allow even more of the population to do the higher order work that is more satisfying like creating, science, music, arts, and another kind of good -- time spent creating human connection and bonding which enriches life beyond the first $100K or so.
[1] - right now startup entrepreneurship is practically a cult, and full of culture that is contrary to the facts. Just to preempt the haters for example here's the data that are hand wave rejected by the cult. The data on hours worked versus productivity, 4 day work weeks, age of successful business founders, venture and hedge capital companies themselves being better investments than the investments which they make
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in an ideal society labor's share would be near 0 because nearly 0 labor would be done. (eg machines do almost all the work ever done)
While many (in America, at least) have been focused on keeping and giving jobs, ultimately what we might need is to invent a newer and better distribution mechanism, alongside a total re-envisioning of entrepreneurship[1] in a way that makes it accessible to >60% of the population, that is to the current labor participation rate. While I don't quite want to end up like the humans in Wall-E (the movie), I do think removing even more people from BS jobs and machine like work in factories will allow even more of the population to do the higher order work that is more satisfying like creating, science, music, arts, and another kind of good -- time spent creating human connection and bonding which enriches life beyond the first $100K or so.
[1] - right now startup entrepreneurship is practically a cult, and full of culture that is contrary to the facts. Just to preempt the haters for example here's the data that are hand wave rejected by the cult. The data on hours worked versus productivity, 4 day work weeks, age of successful business founders, venture and hedge capital companies themselves being better investments than the investments which they make