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I'm not sure that compares to the issue above. Labor value is almostly[0] purely a supply and demand issue. Knowledge workers are in higher demand, so they get
by Cyph0n 10y ago
I'm not sure that compares to the issue above. Labor value is almostly[0] purely a supply and demand issue. Knowledge workers are in higher demand, so they get paid more.
[0]: A mistake POTUS would be proud of :)
- hkmurakami 10y agoThat's far too simplistic imo. Combine supply demand with the fact that when capital (including knowledge capital) provides leverage for companies to increase profit margins, that enables them to post higher wages according to supply demand. Look at skilled manufacturing. Employers basically refuse to pay based on supply demand even more than software etc.
- sokoloff 10y agoI don't understand your last point. Are there employers who are leaving critical-to-them skilled manufacturing positions unfilled because they won't offer a competitive wage?