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The important questions remains: Why is it possible to reduce salaries without losing your workforce? If it's because the economy is shrinking and job supply is
by alephu5 5y ago
The important questions remains: Why is it possible to reduce salaries without losing your workforce? If it's because the economy is shrinking and job supply is dropping, CEO salaries should be less competitive too and share prices should be dropping but we see the contrary.
There's something more than basic market dynamics at play here, inequality is being systematically nurtured which I think is the premise of the article.
- LatteLazy 5y agoBecause we automate away jobs. If you can fill more orders with fewer employees you go up in value, either as the ceo or the company share price. Weve been automating away jobs in all sorts of places for decades. Sometimes that's robots. More often its just production method changes. No more need for skilled taxi drivers when you have GPS etc.
- 29athrowaway 5y agoWe automate tasks, not necessarily entire jobs.
- LatteLazy 5y agoThat's true, but is it meaningful difference? If all the skilled tasks you do are automated, you're not really a skilled worker anymore are you? So suddenly the ceo can replace you with anyone else and the lower limit on your wages is minimum wage...
- 29athrowaway 5y agoMost supermarkets have automated self checkout units but still require someone to supervise they are used. They have automated some tasks but not every task.