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I mean, it's also not the case that labor markets are immune to supply and demand. As always, the answer is somewhere in the middle.
by krapht 8y ago
I mean, it's also not the case that labor markets are immune to supply and demand. As always, the answer is somewhere in the middle.
- noego 8y agoThe whole point of the "lump of labor fallacy" is that growing the workforce will increase both the supply and demand. This is why unemployment is comparable across 1900 and 2000 America, despite the population exploding. The answer isn't always somewhere in the middle. If someone tries to convince you that the Earth is flat or that climate change isn't happening, I would hope that you will lend more credence to the experts instead of believing the answer is somewhere in the middle.
- krapht 8y agoUtility is maximized for society as a whole when the workforce grows. However, my utility is not equal to society's. In fact, selfishly speaking, I would be better off if h1b was shut down, licensure roles introduced, etc etc.