Are big companies squeezing labor?

Noah Smith and Russ Roberts debate whether big companies (tech companies in particular) are using monopoly-ish power to push wages down. Noah cites the declining share of wages as an expense; Russ thinks this is a function of investing in technology. Maybe they’re both be right - it’s not a squeeze in a traditional monopolistic sense, but a case of commoditizing your complement - big companies are using software to commoditize what was previously high-skill, high-paying labor. Either way, it’s definitely worth a listen!