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If it's the second, then market forces might eventually balance out and make hiring people an attractive choice again. It's definitely not going to balance out
by jedbrown 15y ago
If it's the second, then market forces might eventually balance out and make hiring people an attractive choice again.
It's definitely not going to balance out so that it becomes economical to hire people for today's low-skill jobs. At any given time, there will be jobs that machines are capable of, but that it is more economical to hire people for. However, the skill level required for those jobs is going to keep increasing.
- dnissley 15y agoIt's definitely not going to balance out so that it becomes economical to hire people for today's low-skill jobs. Let's take a market force like peak oil. When oil is <$5.00/gal then using a backhoe to dig ditches is the obvious choice over hiring ditch diggers. When oil is $50.00/gal then you might think twice about using a backhoe to dig ditches, and instead hire a bunch of ditch diggers for minimum wage.
- yesbabyyes 15y agoWhen oil is $50/gal then the minimum wage must also be way higher, or your ditch diggers will not be able to get to work, or eat.