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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Michael Hudson: Productivity, The Miracle of Compound Interest, and Poverty | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="ZmfkL5Bj7z"&gt;&lt;a href="https://www.nakedcapitalism.com/2012/04/michael-hudson-productivity-the-miracle-of-compound-interest-and-poverty.html"&gt;Michael Hudson: Productivity, The Miracle of Compound Interest, and Poverty&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2012/04/michael-hudson-productivity-the-miracle-of-compound-interest-and-poverty.html/embed#?secret=ZmfkL5Bj7z" width="600" height="338" title="&#x201C;Michael Hudson: Productivity, The Miracle of Compound Interest, and Poverty&#x201D; &#x2014; naked capitalism" data-secret="ZmfkL5Bj7z" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>Suppose you were alive back in 1945 and were told about all the new technology that would be invented between then and now: the computers and internet, mobile phones and other consumer electronics, faster and cheaper air travel, super trains and even outer space exploration, higher gas mileage on the ground, plastics, medical breakthroughs and science in general. You would have imagined what nearly all futurists expected: that we would be living in a life of leisure society by this time. Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions.   Why hasn&#x2019;t this occurred in recent years?</description></oembed>

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