@johngordon But this paper says: 10 years later when the factory owner needs to replace their old machine with a Widget Maker Mk. 2, if that machine still requires 1 operator but is half the price then that reduces income share.
@johngordon I don't understand this. Most of the time when we think of technology having an effect on the share of labor income, we think of a factory owner buying Widget Maker Mk. 1 which replaces 10 manual workers with 1 operator.