Re:Amazon executives are worried they'll run out of people t...
by Ericson2314 on Tuesday June 22, 2021 @09:44PM
(#27599797)
Have you heard of the https://en.wikipedia.org/wiki/Wage_share though? There is no law that all wage change is accounted for in productivity change and inflation.
Plus, recall Keynesian feedback loops that more wages will unlock more consumption -> more wages. So increasing the wage share can even make the rich better off, unless the rich cruely only care about their power relative to the poor.
Megacorps like Amazon can whine as much as they want that they're "running out" of employees, but the solution is obvious: just raise wages. Once big employers like Amazon start feeling this squeeze enough, they'll start passing the costs on to consumers, and eventually even those Chinese imports will start becoming more expensive. Once that happens, it becomes impossible to pretend that inflation is not real.