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The “law” of supply and demand doesn’t even work across all categories of the economy, so it’s not at all like the law of gravity. https://www.businessinsider.
by claudeganon 6y ago
The “law” of supply and demand doesn’t even work across all categories of the economy, so it’s not at all like the law of gravity.
https://www.businessinsider.com/supply-and-demand-model-of-labour-markets-is-fundamentally-broken-2018-6 https://www.businessinsider.com/supply-and-demand-model-of-l...
- nec4b 6y agoYou are citing a political opinion from a newspaper to prove somehow supply and demand is not a natural law. What is next, an article in Astrology Today arguing 1 + 1 != 2.
- Nasrudith 6y agoA model working and producing a personally.desired outcome are two separate things. The assumption of a labor shortage because of low nominal unemployment is incorrect - the gig economy is thin margin as it is even with poor pay. It utilizes the previously "idle" labor in a marginal business model but without sufficient demand in other sectors it only provides a low floor.