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> In that case, 3 companies will realize they don't actually need those workers afterall, not for the salary they're demanding. They'll find another way to do b
by meritt 8y ago
> In that case, 3 companies will realize they don't actually need those workers afterall, not for the salary they're demanding. They'll find another way to do business without hiring them, or they might even go out of business, which is fine and normal in a well functioning economy.
Absolutely that could happen. But it's funny how you refuse to acknowledge that there may be a "labor shortage" and instead you present it as a "abundance of jobs", as if they aren't two sides of the same coin.
Your second point is just ridiculous, I agree.
- lopmotr 8y agoIt's neither a labor shortage nor an abundance of jobs because there's no correct amount of labor to compare against. All it is is a price for labor which sometimes goes up and sometimes goes down, but there's no correct price at which there's neither a shortage nor an oversupply. If it's ridiculous to say there's a shortage of thing-carriers, how is the different from saying there's a shortage of truck drivers? What's the difference? If you just dismiss it as ridiculous, then you probably don't know what you're talking about.
- meritt 8y agoTruck drivers require a specific skill and license. There's a finite amount of those people at any point in time. If the number of jobs exceeds the number of workers, then we have an abundance of jobs in relation to the amount of human capital. It's really not a difficult concept to understand.
- lopmotr 8y agoYou're missing the point. This has nothing to do with more drivers entering the market to return the numbers to any artificial "correct" number. If more companies wanted truck drivers more desperately, their pay would go up. Same number of drivers but they'd all earn more as employers compete to get what's available. Or if half of them quit, the pay for the remaining half would go up. Less truck driving would be done and fewer companies would need truck drivers (at the price they now demand).