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by ZoomerCretin
995 days ago
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There is no labor shortage. US prime age employment is far below that of other rich countries. We have a huge amount of slack. And yes, "just pay more" is the solution. There is no shortage of Lamborghinis, but there is a shortage at $1000. Machine operators near me are paid $12/hour, the equivalent of 2009's minimum wage after inflation adjustment. Yes, wages are too low. Yes, it's good to pay more money and for everyone to be forced to pay more money for wages. If you want cheap services built on extreme inequality, you're free to move to a 2nd or 3rd world country. |
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You might not have thought that through - if you actually did that, then everything costs more, and there is no net change in affordability. All you did was cause inflation.
If you want to help everyone, without drawbacks, then increased productivity is the way to go. Then things are cheaper. Services are harder to improve though.
> There is no labor shortage.
Unemployment is historically low, so that's not correct.