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Not really, it would make no sense to acquire advanced skills if menial unskilled labor that no one wants to do pays more.
by trianglem 7y ago
Not really, it would make no sense to acquire advanced skills if menial unskilled labor that no one wants to do pays more.
- zozbot234 7y agoThe kind of menial unskilled labor that we're discussing here is far less appealing than any work involving advanced skills - that's what the higher pay would be compensating for. It all works out.
- croon 7y agoThink further a few more steps. There will be an equilibrium around a pay where there is a long enough line for unskilled labor to fill all demand. Assuming an Econ 101 efficient transparent market.
- littlestymaar 7y ago> Assuming an Econ 101 efficient transparent market. Which is basically “assuming a flat earth and atmosphere approximate to vacuum”. You can't get many useful insights from that.