4 ms·
Infinite demand, maybe, but not at wages that most people are willing to accept. Of course, if there's literally no other work, then previously-middle-class peo
by Sharlin 6mo ago
Infinite demand, maybe, but not at wages that most people are willing to accept. Of course, if there's literally no other work, then previously-middle-class people will take what's available and become homeless because the wage doesn't pay the bills (which are, in places, extremely inflated due to decades of jaw-droppingly bad housing and transport policies). Sounds like a highly desirable future.
- eru 6mo agoYes, but thanks to Baumol's cost disease productivity increases in other sectors can have spillover effects in terms of wages.
- tonyedgecombe 6mo agoThat assumes the current high wages are here to stay. This seems unlikely if AI consumes most white collar jobs.
- Sharlin 6mo agoUm, I expressly said that high wages wouldn't stay? If the choices are either being jobless and homeless, or doing some menial cotton-harvesting job while still being homeless, we got a slight social problem. The GP said that there's a lot of demand for menial labor. That demand only exists if you don't have to actually pay for said labor. In other words, it's not demand at all.