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When the market price of jet fuel increases, airlines don't cry that they can't find jet fuel, they pay the higher price and then they raise fares. When the ma
by panarky 8y ago
When the market price of jet fuel increases, airlines don't cry that they can't find jet fuel, they pay the higher price and then they raise fares.
When the market price of coffee increases, coffee shops don't cry that they can't find coffee, they pay the higher price and then they raise prices.
But when the market price of labor increases, employers don't raise their wages, and then they say they can't find workers and can't afford to pay more.
Why is labor pricing treated differently from any other economic input?