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Everything in economics is a paradox because everything is two sided, often with yourself on more than one side. Selling your labor? You want high wages, union
by api 1y ago
Everything in economics is a paradox because everything is two sided, often with yourself on more than one side.
Selling your labor? You want high wages, unions, worker protection laws, etc.
Buying something? Now you want to cut wages and bust unions, at least if you tend to choose the cheaper item.
- sokoloff 1y agoWhen a consumer is buying labor embodied in a product, they don’t care whether that labor are unionized or what their wage per hour/day is. They do care what the wage per unit produced is, which is why we see a lot of US manufacturing moving towards higher levels of automation to let the embodied labor per finished unit be lower and thus competitive in the market.