When you double supply, the value of each unit of supply goes down. This exact situation was predicted.
That’s only true if demand remains constant. It’s also an incredibly cynical way to look at the labor market. This is a result of the continuing gutting of the middle class and concentration of wealth in the hands of an ever shrinking pool of the ultra wealthy. The answer to why it’s no longer possible to support yourself on the pay of the majority of jobs even working full time isn’t “too many workers”, it’s the leeches at the top taking the majority of the profits.
it’s the leeches at the top taking the majority of the profits
Why now though? Why didn’t this happen 50 years ago? 100 years ago? Have people suddenly become greedy and were somehow not greedy before? No, something (or somethings) have changed in the last few decades that brought this about.
Why now though? Why didn’t this happen 50 years ago? 100 years ago? Have people suddenly become greedy and were somehow not greedy before? No, something (or somethings) have changed in the last few decades that brought this about.
Oh, that’s super easy, Reagan happened. It just takes a while for unstable systems to reach a tipping point. Reagan put that brain fart out there, and then the GOP picked up that ball and ran with it for all they were worth. They know a good grift when they see one.
