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Outside of undergraduate economics 101 textbooks Labour is not perfectly fungible. - People have aptitudes, especially for creative work - Changing trades req
by Tanjreeve 4y ago
Outside of undergraduate economics 101 textbooks Labour is not perfectly fungible.
- People have aptitudes, especially for creative work
- Changing trades requires training/education which in itself requires capital
- for most people their brains are less adaptable at older ages. Which worsens the other two effects.
- AnthonyMouse 4y ago> Outside of undergraduate economics 101 textbooks Labour is not perfectly fungible. It wasn't claimed to be. That's why people whose skills are now in lower demand may make less money than other people. But that doesn't mean they can't find jobs.