So if you are managing a warehouse, you have lots of #people willing to work at a low #wage, you don’t need to look into hiring #robots to automate all the jobs stocking the shelves.
They don;t need to, but still they do it, like Amazon. Also, as they mention in the article, they also do it in China. Who cares if your workers are willing to work at lower wages if a robot will work for free, won't strike, and will payoff its cost in a year?
And so the upshot of all this is that there’s just a lot of effective labour available to firms, and that reduces #labour bargaining power, it places a lot of downward #pressure on #wages as the way that we find jobs for all these willing workers. And ironically, if you’re an employer and you’ve got as many workers as you want at a low rate of pay, you don’t feel very much pressure to go out and invest in new labour-saving technologies. So if you are managing a warehouse, you have lots of #people willing to work at a low #wage, you don’t need to look into hiring #robots to automate all the jobs stocking the shelves.
When is the last time you heard an economist talk about how minimum #wage #policy affects people's desire to feel like society cares about them? When is the last time you heard an economist talk about the need to include strong interpersonal relationships in GDP?
But as soon as countries get past the stage of abject deprivation, non-market goods and social preferences probably become a lot more important. By sweeping these things under the rug, economists are probably A) nudging policymakers to ignore crucially important stuff
Sociologists probably know more about how to do this, but they don't even post their working papers or blog very much, so who knows what they're up to?
Uber says it doesn’t know how much drivers on its platform actually earn per hour, after expenses. Still, Uber’s internal pricing models, found in the spreadsheets provided to BuzzFeed News, do generate rough estimates of driver net pay. But in internal communications seen by BuzzFeed News, Uber explicitly discourages employees from comparing these estimates to the minimum #wage.
Wage Labour and Capital~ Works of Karl Marx 1847 ~
Edited/Translated: #Frederick #Engels; First Published (in #German): #Neue #Rheinische #Zeitung, April 5-8 and 11, 1849
#wage #labor #capital #karlmarx #marx #1847 #frederickengels #economy #pamphlet #pdf #audiobook #librivox