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> 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 fl
by 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.