Re:What harm do minimum wages do?
by curryst on Wednesday August 19, 2020 @07:47PM
(#24218231)
> There's only so much productivity we can utilize. What happens when we've saturated? Unemployment.
There's only so much productivity we can utilize _at a given price point_. It's possible wages could fall instead, although there's definitely a floor to that.
That's one of the interesting implications of UBI; it would theoretically make it easier to find free or close to free labor. I still don't think it would be plentiful, but I would guess there will be an uptick in the number of people like amateur astronomers who will sit and watch the sky at night for free.
There's only so much productivity we can utilize _at a given price point_. It's possible wages could fall instead, although there's definitely a floor to that.
That's one of the interesting implications of UBI; it would theoretically make it easier to find free or close to free labor. I still don't think it would be plentiful, but I would guess there will be an uptick in the number of people like amateur astronomers who will sit and watch the sky at night for free.