Economic Artistry
Standardized pay was the impact of standardized outputs. When people use the same tools, the output is standard and certain, so pay varies very little. With modern tools, the outputs are no longer like an assembly line; instead, they vary dramatically by person. The creation of conceptual wealth is an artistic performance and the economy is becoming an opera. The biggest reward goes to the best voices. The return on ordinary performance is falling. Middle talent is in high supply because of global competition.