Re:It's not a labor shortage – it's a wage and workers right...
by Robotbeat on Sunday September 05, 2021 @02:57PM
(#28426755)
But competitors are already in the same boat. Demand for business is high.
I really think that some of this is about class solidarity among business owners (especially small business owners). I say this as a political centrist, too.
There are a bunch of reasons why wages are "sticky" (i.e. they don't go up--or down--when you'd expect that to be the rational decision in an efficient market), and this is probably one of them.
Also, there are ways to seek out higher efficiency. Hire at higher wage but expect and prepare for higher productivity. Operate the business for longer hours to make the most of money paid for rent, etc. Unfortunately, I think small businesses where I live (in southeast Virginia) are much worse at this than larger businesses.
I really think that some of this is about class solidarity among business owners (especially small business owners). I say this as a political centrist, too.
There are a bunch of reasons why wages are "sticky" (i.e. they don't go up--or down--when you'd expect that to be the rational decision in an efficient market), and this is probably one of them.
Also, there are ways to seek out higher efficiency. Hire at higher wage but expect and prepare for higher productivity. Operate the business for longer hours to make the most of money paid for rent, etc. Unfortunately, I think small businesses where I live (in southeast Virginia) are much worse at this than larger businesses.