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There is never lack of workers, it is only question of pay and benefits. This is not something new, there is a story about how Henry Ford increased the pay of t

There is never lack of workers, it is only question of pay and benefits. This is not something new, there is a story about how Henry Ford increased the pay of the workers, the 5$ work day so that they could afford to buy their own model T, but the story does not tell that the main reason was that trouble of keeping workers. https://www.forbes.com/sites/timworstall/2012/03/04/the-story-of-henry-fords-5-a-day-wages-its-not-what-you-think/?sh=449a1f8d766d https://www.forbes.com/sites/timworstall/2012/03/04/the-stor... At the time, workers could count on about $2.25 per day, for which they worked nine-hour shifts. It was pretty good money in those days, but the toll was too much for many to bear. Ford's turnover rate was very high. In 1913, Ford hired more than 52,000 men to keep a workforce of only 14,000. New workers required a costly break-in period, making matters worse for the company. Also, some men simply walked away from the line to quit and look for a job elsewhere. Then the line stopped and production of cars halted. The increased cost and delayed production kept Ford from selling his cars at the low price he wanted. Drastic measures were necessary if he was to keep up this production.

test6554 5y ago
Yes wages should go up, but the driver of this increase is temporary (global pandemic and fear of it). But once you raise wages, you're kind of stuck there. I think if we can get through this year without going crazy with wage increases we can keep inflation at bay and COVID will go away. So what they're saying is that benefits need to get less and less generous as fear of covid gets lower and lower. The former should follow the latter until those terrible jobs don't looks so bad to some people. And that means some people will land at the bottom rung of the economic ladder and obviously not be happy about it.
- rapsey 5y ago
  > I think if we can get through this year without going crazy with wage increases we can keep inflation at bay and COVID will go away When cost of everything is going up, you can't keep inflation at bay.
- imtringued 5y ago
  When you have moderate inflation the economic system rewards ingenuity, productivity and efficiency. People at the bottom rung of the economic ladder will obviously be happy about it because that is all they have. The rich have money and capital that can paper over those three things.

test6554 5y ago

Yes wages should go up, but the driver of this increase is temporary (global pandemic and fear of it). But once you raise wages, you're kind of stuck there. I think if we can get through this year without going crazy with wage increases we can keep inflation at bay and COVID will go away. So what they're saying is that benefits need to get less and less generous as fear of covid gets lower and lower. The former should follow the latter until those terrible jobs don't looks so bad to some people. And that means some people will land at the bottom rung of the economic ladder and obviously not be happy about it.

rapsey 5y ago
> I think if we can get through this year without going crazy with wage increases we can keep inflation at bay and COVID will go away When cost of everything is going up, you can't keep inflation at bay.
imtringued 5y ago
When you have moderate inflation the economic system rewards ingenuity, productivity and efficiency. People at the bottom rung of the economic ladder will obviously be happy about it because that is all they have. The rich have money and capital that can paper over those three things.