3 ms·
When 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 t
by sokoloff 1y ago
When 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.