4 ms·

Adding more labor would drive down demand and hurt wages even more. This is econ101 stuff. The Democrats are working for the elite class now just look at how th

• astrange 5y ago
  Economists don’t agree with this because they took the classes after 101 ;) Supply and demand models aren’t used for labor because they don’t fit, because people generate their own demand. It’s better to look at search and monopsony models instead - but more importantly, they make the models and change their minds after observing real world data, which is why surveys of economists say immigration and minimum wage laws etc. are good.
• wk_end 5y ago
  Adding more people to a country means there’s more demand, because there’s more people, and people demand stuff. This is also Econ 101 stuff. Consider that as America’s population boomed between, say, 1860 and 1960, from 30M to 150M, instead of everyone becoming 5X poorer as they split the pie among more people, the country got vastly richer and more prosperous - the pie got bigger.
  • water8 5y ago
    You need money to have demand. 5 billion broke people creates zero demand. You can't just dilute the labor pool and claim you're strengthening the mixture. You're just adding more options for the employer which means less positions for you