This is because each company has a limited (especially in the short run) set of high value potential programming work to be done, which can be quickly exhausted by the enhanced programming productivity, leaving only low-value marginal work.
This makes perfect sense when you put it this way, and yet I imagine that if tried to make a similar argument on internet, I would immediately get a “Lump of labour fallacy” reply.
(I guess the problem is with words such as “short term”. Are we talking weeks, months, years? In a relatively static economy, or approaching singularity? Basically the speed of discovering new high-value work vs the speed such work becomes obsolete.)
This makes perfect sense when you put it this way, and yet I imagine that if tried to make a similar argument on internet, I would immediately get a “Lump of labour fallacy” reply.
(I guess the problem is with words such as “short term”. Are we talking weeks, months, years? In a relatively static economy, or approaching singularity? Basically the speed of discovering new high-value work vs the speed such work becomes obsolete.)