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Wage growth is not going to return because we've started hustling rides. Its demise was political and its resurgence can only be political. The 'sharing' econom
by crdoconnor 12y ago
Wage growth is not going to return because we've started hustling rides. Its demise was political and its resurgence can only be political. The 'sharing' economy is simply symptomatic.
- opendais 12y agoI never said wage growth was going to magically reappear because of this. I think wage stagnation is a side effect of globalization, personally. Employers arbitaging labor costs across oceans and borders is very effective at slowing the wage growth of the most expensive workers.
- crdoconnor 12y agoWhile largely true, employers fought a long hard political battle to break down impediments to trade and keep the value of the USD propped up. Those are the things that let them arbitrage labor costs and they (currently) come with the consent of labor. "Globalization" (in this sense) was not some inevitable force of nature, it was borne out of hard-won policies like NAFTA and CAFTA.