Re:Will the rich world’s worker deficit last?
by s1artibartfast on Wednesday August 18, 2021 @10:20AM
(#28221285)
Nobody is claiming that businesses have a right to exist. Workers need jobs so that they don't end on the street and die. The concern is viable job opportunities disappearing and not being replaced. Businesses closing is an important subject to monitor because nobody wants to live in a failed economy where most of the population is unemployed and starving.
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Re:Will the rich world’s worker deficit last?
by TheCoelacanth on Wednesday August 18, 2021 @01:20PM
(#28224375)
It seems like a stretch to predict that workers will end up destitute because of wages being too high.
As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses.
Re:Will the rich world’s worker deficit last?
by s1artibartfast on Wednesday August 18, 2021 @02:01PM
(#28224872)
>As some businesses go out of business due to wages, that will put downward pressure on wages and keep things affordable for the remaining businesses.
Not necessarily. 1) there can be regulatory floors on wages. Half the folks in this thread are calling for higher minimum wage. 2) if cost of living outpaces wages, there may not viable business model at all for low wage employers. 3) it may be the case that in some markets working at all lowers the effective income due to welfare cliffs.