15/12/2019
Western factories are competing with Asian factories for ‘unskilled labor’, and in this contest, we have seen stagnant wages in the context of rising cost-of-living inflation resulting in a decline in real wages for unskilled workers in the West, whilst the wages of skilled workers has taken off.
Those who would posit that there is a trade-off between robots and humans for jobs are correct. [i] The problem is that too many human...