4 ms·
Minimum wage creates distortions. For example industries that are labour heavy are impacted disproportionately to others that are more automated.
by bravo22 6y ago
Minimum wage creates distortions. For example industries that are labour heavy are impacted disproportionately to others that are more automated.
- Retric 6y agoAutomation is not a fixed thing. Many industries look to be people heavy but can rapidly swap, ie taxi cabs in a driverless car world. Speeding that up seems like a net social and economic benefit if we don’t need to worry about structural unemployment.