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Re:Restaurant workers quit at record rate by lumost on Wednesday July 21, 2021 @12:27AM (#27902330)
Perhaps depressed wages are partly to blame for the lack of automation in the current economy. If there is labor scarcity it may unlock new innovations by forcing market participants to find more productive uses of labor.

Labor force participation has been falling for a long time as labor sellers (employees) fail to find an adequate price for their labor from employers (the buyer). Many economists assumed this was the fault of the labor seller for not having skills attractive to buyers. It's also possible that in certain segments employers were using labor in-efficiently, or simply miss-pricing the value of a worker.

Which is a long winded way of saying that a higher minimum wage may bring more labor into the market, while simultaneously forcing businesses to leverage automation to improve the productivity of said labor.

Re:Restaurant workers quit at record rate by AKSucks on Wednesday July 21, 2021 @05:44AM (#27904178)
"Many economists assumed this was the fault of the labor seller for not having skills attractive to buyers"

Given the massive redistribution of wealth in the US for the last half a century it's pretty clear that's not true, and that what's really been going on is businesses have been squeezing "labor sellers" to death.

Re:Restaurant workers quit at record rate by shadilay on Wednesday July 21, 2021 @04:54AM (#27903931)
Absolutely this. Wages have been depressed for a long time which has severely hampered innovation. Historically the black death labor shortage led to the renaissance.