Re:Will the rich world’s worker deficit last?
by AnimalMuppet on Tuesday August 17, 2021 @11:54PM
(#28217620)
> Raising wages doesn’t create more workers, though. It will just convince them to leave other jobs for the higher paid alternatives. This creates new job openings that still need to be backfilled.
Others have correctly pointed out that the supply curve is not flat. But even if it were, well, economics is about the allocation of scarce resources that have alternate uses (Thomas Sowell's definition). If people are scarce, and they go where they produce the most value, and places where they would produce less value don't get filled, is that a problem? Isn't that exactly what you would want to happen?
Others have correctly pointed out that the supply curve is not flat. But even if it were, well, economics is about the allocation of scarce resources that have alternate uses (Thomas Sowell's definition). If people are scarce, and they go where they produce the most value, and places where they would produce less value don't get filled, is that a problem? Isn't that exactly what you would want to happen?