> But that extra value doesn't accrue to individuals, it accrues to business owners.
What is value?
Is a 2X faster lumberjack 2X as valuable? Sure
Is a 2X faster programmer 2X as valuable? At what, fixing bugs? Adding features? That's not how the "ownership class" would define value.
Productivity is a measure of efficiency, not growth. Slashing labor costs while maintaining the status quo is still a big productivity gain.