|
|
|
|
|
by daenz
2643 days ago
|
|
Exactly, and allowing that ebb and flow of the market to work is a good thing. As other people pointed out, it's not like there wouldn't be grocery store staff and that's the end of it. The demand is still there. And when the supply is low but the demand stays the same, the wages go up. All of these things are connected and tend towards an equilibrium. The thing that keeps things from flowing properly are artificial regulations. For example, artificially low housing (like gov subsidized) in expensive areas make it so low income people can work in high income places for low wages. They can't afford to eat at the restaurants (or buy other higher income things local to the area), but they can afford to work at them. The regulation is artificially boosting supply to match demand so wages do not trend upwards. |
|
The reality is that this doesn't happen when it gets really bad. A few real-world examples:
Nebraska had (as of December 2016) 11 counties without a lawyer[0].
In California, when immigrant labor started getting deported, celery farmers kept increasing wages to attract new labor, and even after more than doubling their wages, couldn't get enough people to pick all the celery.[1]
[0] https://www.npr.org/2016/12/26/506971630/nebraska-and-other-... [1] https://www.npr.org/2018/05/03/607996811/worker-shortage-hur...