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This position makes no economic sense. Consumers are the end goal of an economy. Workers are just a means to meet consumer demand. Eventually, through automatio
by Houshalter 12y ago
This position makes no economic sense. Consumers are the end goal of an economy. Workers are just a means to meet consumer demand. Eventually, through automation, we may not even need any workers at all. You can artificially raise wages up to a certain point, but it's not at all clear that this is good for the economy as a whole. E.g. unemployment for workers whose labor isn't worth that much, higher prices for consumers, etc.
A better alternative is something like a basic income. Something that helps all people, not just people who have jobs with high demand. And is payed for by taxing the entire economy, not just businesses that coincidentally employ a lot of workers (or indirectly, their consumers.)