> Our current unemployment rate is virtually the lowest in 20yrs and it's hard to hire ANYBODY as a result. (1)
This observation is so weird in the context of flat wages and the proliferation of sub-minimum-wage "gig economy" jobs. If labor was really scarce, shouldn't that put upward pressure on wages? Perhaps what automation is doing is giving employers a way out of competing for labor. The long range consequences seem pretty obvious: massive, rising inequality.
This observation is so weird in the context of flat wages and the proliferation of sub-minimum-wage "gig economy" jobs. If labor was really scarce, shouldn't that put upward pressure on wages? Perhaps what automation is doing is giving employers a way out of competing for labor. The long range consequences seem pretty obvious: massive, rising inequality.