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by Timon3
17 days ago
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Just like all markets, the labor market isn't an immutable natural structure. It is actively shaped by the laws and regulations of the market's respective physical location. There are too many specific examples to count, but a few of the most obvious ones are IMO: Child labor, minimum wage, max. working hours and/or overtime, worker safety & health, ... > Companies can’t force anyone to work for them. If the pay gets too low, people leave for other companies or jobs. In an ideal world, sure! But in the real world, there are many sources of friction that - when added together - keep people tied to a job, even if they feel the pay is too low. |
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