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A comment on America is building chip factories. Now to find the workers. Parent comment

Re:America is building chip factories. Now to find the workers by wnc3141 on Friday August 25, 2023 @01:43AM (#37258504)
You are correct, however a more practical read is: In the short run, precluding net growth and change in supply, a rise in salary implies a redistribution from capital (shareholders) to labor.
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Re:America is building chip factories. Now to find the workers by Aerroon on Friday August 25, 2023 @02:34AM (#37258777)
Money might move from capital to labor, but you aren't getting any extra production of goods. The stuff labor wants to buy still has the same amount of scarcity. Ie you will get inflation.

You need to encourage more (efficient) production to make labor better off.

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Re:America is building chip factories. Now to find the workers by oblio on Friday August 25, 2023 @03:09AM (#37258965)
Productivity has risen a ton since the 1970s.

Wages are practically flat.

Software and the internet haven't helped, quite the opposite.

The profits are captured at the top.

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Re:America is building chip factories. Now to find the workers by gottorf on Friday August 25, 2023 @10:41AM (#37262257)
https://wtfhappenedin1971.com/

1970s, of course, is when the dollar started being backed by nothing more than "full faith and credit".

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Re:America is building chip factories. Now to find the workers by oblio on Friday August 25, 2023 @12:25PM (#37263565)
That graphic is misleading: https://www.yesigiveafig.com/p/what-really-happened-in-1971
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