As long as companies can keep finding investors to bankroll them, workers can be paid more than the value they generate.
As long as companies can keep finding investors to bankroll them, workers can be paid more than the value they generate.
And ... managed to scarcely mention his invention at all in Wealth of Nations. For a book that's considered to be the foundation of modern economics, he utterly misses the major factor driving growth through the 19th and much of the 20th century: coal-fired steam power. Even today, coal-fired steam (through turbines rather than pistons) drives much electrical generation.
E.g. http://www.xnumber.com/xnumber/microprocessor_history.htm
There is no steady state in which a worker can be paid more than the value he creates. As long as that state continues, value is being destroyed, and whoever is paying the worker will ultimately run out of willingness or, failing that, ability to pay.