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by snapplebobapple
17 days ago
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I would expect fortune to be able to understand basic economics, but I guess not. I can't verify because it is a paywalled article, but if this article isn't about oligopolies abusing labor market power, then it is intensely wrong headed. Paying workers less is a good thing to a point, it means less dead weight loss to the economy from labor abusing market power (which is basically the worst thing you can do in economics). If it's about abuse of monopsony power in the labour market by oligopolies then I apologize, that's the one case where paying people less is bad, but it's also kind of rare these days. |
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