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by waynesonfire
995 days ago
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> Wages don't go up infinitely. They go up, then you run out of workers, and raising wages further doesn't bring more labour to the table. At that point, you cut services and increase prices to temper demand. wow, what a great problem to have. how common is it to encounter this issue? Amazon warehouse workers? Did they increase wages? |
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It's common in regulated professions where entry is gate kept.
To be clear, I'm not convinced we're in a general labor crisis. (Automation should release a lot of supply.) But claiming the concept is mythological is historically inaccurate. (See: raging inflation in mining towns and settlements, which were disconnected from large labour markets.)
> Amazon warehouse workers? Did they increase wages?
Yes [1]. And it's working in that they're managing to hire some people [2]. But productivity per employee is going down, which is directly feeding into increased prices to consumers.
[1] hhttps://www.cnbc.com/2023/09/19/amazon-adding-250000-workers...
[2] https://gadallon.substack.com/p/amazons-holiday-shopping-lis...