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If labor costs (ie wages) get exceptionally low, it starts making sense to develop more labor-intensive technology. Consider how the industrial revolution star
by YokoZar 13y ago
If labor costs (ie wages) get exceptionally low, it starts making sense to develop more labor-intensive technology. Consider how the industrial revolution started by replacing expensive weavers with cheap migrant workers using power looms.
There could just as easily be some sort of technology or industry that takes off tomorrow because it's more able to use this abundant supply of low-skilled workers we're worrying about.