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Those things are happening anyway. They might reduce the magnitude of the effect, but prices will still go up as wages go up. Also as automation increases produ
by simonh 5y ago
Those things are happening anyway. They might reduce the magnitude of the effect, but prices will still go up as wages go up. Also as automation increases productivity, leading to a wealthier economy, workers move into service sectors which are labour intensive.
You can't just say, well, just reduce the amount fo labour to keep costs down. That labour still needs to be employed doing something.