What happens if the prices of cars are depressed by the increasing efficiency, competition and product longevity, and the people displaced through efficiency are taking lower paid jobs.
If you measure output as GDP - wouldn't GDP have gone down - even if actual production of goods and services has gone up?
Not sure how they measure productivity here.
if you think it's bad now for reasons of increased reliability and efficiency throughout -- wait till the population starts dropping as boomers die and zoomers don't have kids
Not sure I follow. Sure output would drop if the population dropped - but then so would demand - so unless you have demographic imbalance I'm not sure it's a problem.
Perhaps if you are at the apex skimming off a fraction of a percentage of total output then the size of the output matters.
Or perhaps if you are holding debt and expecting the repayments with interest to be made.