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> A shrinking, aging population would fix this problem. The demand for labor will go up, the supply will go down. Bad for the investor class looking for profits
by neverminder 6y ago
> A shrinking, aging population would fix this problem. The demand for labor will go up, the supply will go down. Bad for the investor class looking for profits, good for reducing economic inequality. People will be able to profit from labor again.
There is historical evidence of this, like consequences of the Black Death:
"Another notable consequence of the Black Death was the raising of the real wage of England (due to the shortage of labour as a result of the reduction in population), a trait shared across Western Europe, which in general led to a real wage in 1450 that was unmatched in most countries until the 19th or 20th century. The higher wages for workers combined with sinking prices on grain products led to a problematic economic situation for the gentry."
https://en.wikipedia.org/wiki/Black_Death_in_England https://en.wikipedia.org/wiki/Black_Death_in_England