Automation creates a much bigger problem. If you had 10 independent bakers, the price of bread would be limited from both sides: * The bakers would rather quit

Automation creates a much bigger problem. If you had 10 independent bakers, the price of bread would be limited from both sides: * The bakers would rather quit than keep earning less that what easier jobs pay, pushing the prices up. * If the price went too high, someone would setup another bakery to get a market share, pushing the prices down. With automation and consolidation we have 1 corporation owning 1 automatic bakeries and 10 completely disposable bureaucrats on near-minimum wage. If the demand goes up, jacking up the prices is easier than setting up the 11th bakery (what if the demand goes down later? too risky!). If a new player enters the market, they will just sell the bread in that neighborhood at a loss until the competitor is out, then get the prices back. Rinse and repeat for a decade and here you go: assets prices are through the roof, salaries are stuck, there is a shortage of everything, prices are going up, competence is lost art, nobody knows what to do. Artificially created jobs won't pay for a decent house because they don't come with a bargaining power. We could print money and turn $5/hr vs. $3K rent into $50/hr vs. $30K rent, but it won't change the balance of power. If you want to change it, we need to crack down on centralization and make small businesses competitive again.