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> Why is there no talk about the dramatic increase in the supply of workers over the last 40 years? Because it is irrelevant. If you have 100 workers, they pro
by kartan 9y ago
> Why is there no talk about the dramatic increase in the supply of workers over the last 40 years?
Because it is irrelevant. If you have 100 workers, they produce and consume as 100. If you get 100 million, they produce as 100 million, but also consume as 1000 million.
> It makes sense from an economic standpoint that the price of labor would not rise when the supply is increased
The price of labor would not fall if the demand increases also. That´s why it´s a non problem to have more people, until you hit the ceiling of Earth resources.
The problem is the distribution of the wealth created, and that´s explained in the article.
- Eridrus 9y agoThis discounts economies of scale. Capitalism's argument is that we will always want to consume more things so we'll just make more different things, but there's really only so much one can consume.