One of the arguments of this article is that as technology stabilizes we will be able to demand higher pay.
Technology will likely not stabilize.
Technology will likely not stabilize.
Would a web designer from 1996 have a job in today's market? In the same vein, it would be like saying the autoloom would still work today, obviously it would, but no one would use it to produce goods to sell commercially.
I just love those articles that state that "we have no problem" because "everything just settles out at the end", while forgetting that one of the mechanisms for everything to settle up is a huge share of the population dying. It's survival bias acting at slaughter time.
Another way to look at it as go visit Fort Williams in New York, they have a display of 18th century clothing. Look how tiny it was. It's a dramatic illustration of how hard life was in pre-industrial America.
Next visit some Civil War museums and look at the uniforms on display. They're about halfway between colonial sizes and modern sizes.
It has, however, stabilized locally for periods of time in one area of industry or another.
And it is likely to do similar things again.