4 ms·
Their point is that is becoming less and less true and will likely be false soon. Most labor simply isn't worth as much as it used to be. This is evident in s
by nostromo 5y ago
Their point is that is becoming less and less true and will likely be false soon. Most labor simply isn't worth as much as it used to be. This is evident in stagnant wages and the view of large families not as assets but as liabilities.
You can try to spur local demand by expanding your population (via birth or immigration) but what we really care about is GDP per capita. Most very populous countries are not wealthy.
- wizzwizz4 5y ago> Most labor simply isn't worth as much as it used to be. This is evident in stagnant wages You're assuming an efficient market, which we've long known is a flawed assumption.
- jeffreyrogers 5y agoWhere is that assumption? I'm not seeing it in the claim.
- delecti 5y agoTaking stagnant wages to imply that the labor is worth less is taking for granted that reduced prices means reduced value. It's probably more accurate (though still oversimplifying) to view it as a cartel suppressing wages.