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Fundamentally we need safety valves for labor supply that always creates a net advantage for workers, but how? My take has always been that advances in producti
by jmward01 10mo ago
Fundamentally we need safety valves for labor supply that always creates a net advantage for workers, but how? My take has always been that advances in productivity that reduce the need for labor should be given back to the workforce via incentives like:
- sabbaticals/funded retraining opportunities: People leave to train creating a need for labor and at the same time increasing the value of labor. This would also create liquidity in the labor market since people would have opportunity to leave their current field and go to a different one.
- strong encouragement to retire earlier: Fewer people in the workforce and more people spending retirement means more demand for jobs and more demand for goods and services.
- limit the workweek more: Same argument as retirement
All of these have positives and negatives, but unless we start thinking about things like this we will get a world where labor is at a massive disadvantage and all the issues that leads to.