As with every other “crisis” capitalism faces, the solution is simple: no more capitalism, no more crisis.
“A reduction in the share of workers can lead to labor shortages, which may raise the bargaining power of employees and lift wages — all of which is ultimately inflationary,” Simona Paravani-Mellinghoff, managing director at BlackRock, wrote in an analysis last year.
Yeah, fuck that babbling bourgeois bullshit. Fun fact though, after plague killed so many people in Europe, the surviving serfs (and their more immediate descendants) had an unprecedented level of power and agency over their living and working conditions.
Actually the serf seeing his father dying from the plague said “ah shit this will be ultimately inflationary.”
I also love how the whole hand wringing they’ve been doing about China’s supposed demographics problems turned out to be pure projection once again.
The irony being that China has the tools to overcome a declining population, whereas the west is a goldbergian paperclip maximizer.
