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Yes, countries that go through population declines without new immigration have often seen strong wage growth. Famously after the Irish great famine agricultura
by guywithahat 1y ago
Yes, countries that go through population declines without new immigration have often seen strong wage growth. Famously after the Irish great famine agricultural wages rose ~30%, and lower-skill jobs saw strong wage growth
- Hikikomori 1y agoSerfs got slightly more after the Brits killed most of them? Sounds great.
- guywithahat 1y agoTechnically most of the Irish population emigrated Ireland, and I'm not sure I'd blame the brits for a famine but ok. Really what I'm looking at is the economic effect of decreasing population when it's not replaced by immigrants
- Hikikomori 1y agoStill killed a million. It is clearly the fault of Britain as Ireland produced much more food than it needed itself but peasants mostly only got to eat potatoes as most of all good food was exported because Brits owned most of the land so peasants didn't own what they produced. When they didn't have acces to potatoes anymore they had no food, and free market advocates in Britain argued that they shouldn't even try to help them.