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by astrange
953 days ago
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This is what economists call a "partial equilibrium" analysis. This is a polite(?) academic way of saying it's wrong. Hiring workers does not displace other workers because they come with increased demand for labor of their own. It does increase specialization on the team because you need to find comparative advantage, but that's nearly as much of an issue. |
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Anyhow his theory rests on assumptions that are nonsensical in today’s economy.[1]
Instead we have “labor arbitrage” which is to say workers being displaced.
[1] https://lawecommons.luc.edu/cgi/viewcontent.cgi?article=1674...