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There has to be enough excess profit in an industry in order for a worker shortage to force the wages up. North eastern crab fisheries are likely not profitabl
by medvezhenok 3y ago
There has to be enough excess profit in an industry in order for a worker shortage to force the wages up.
North eastern crab fisheries are likely not profitable enough (due to market rate for their products, or whatever it is), so they will likely fold/go out of business instead (unless automation can save/increase the productivity per worker, and then they can stay in business but with fewer workers - who will be better remunerated).
- JohnMakin 3y agoYou precisely nailed it. some of these industries and companies shouldnt survive as they are but we insist they should.