▲ | llamaimperative 5 days ago | |||||||
I didn't say anything about long-term viability. I am talking about near-term shocks and then questioning how long a recovery would take. The south's economy was in ruins post-Civil War and only revitalized through immense subsidy, aid, and debt programs. Broadly speaking, the South was in deep, destitute poverty until the New Deal (that is more than sixty years for anyone counting at home!). Obviously most of that devastation was from the war itself, but if every enslaved person in the country were shipped back to Africa (as many proposed at the time), it absolutely would've had deeply negative near-term consequences. To suggest otherwise is to suggest that economies don't actually depend on labor. Dismissible on its face! And to be explicit: those near-term consequences were morally necessary to bear anyway. > In fact, it is unsustainable to encourage illegal labor and immigration. Not sure what this is responding to, tbh | ||||||||
▲ | mschuster91 5 days ago | parent [-] | |||||||
> > In fact, it is unsustainable to encourage illegal labor and immigration. > Not sure what this is responding to, tbh I think this is related to this here: > The US economy is absolutely sustainable by paying citizens legal wages. They do have a point there - their argument (as I read it) is that the widespread use of undocumented/illegal labor and the exploitation of these laborers in agriculture has led to an economic gridlock situation: employers make big bucks by not paying their fair share in social security and taxes, fair employers have a hard time competing on price because the cost of fair, legal labor is too high, and they cannot raise prices to a sustainable level because the consumers have no money to pay for that because they themselves don't get paid fairly. The associated economic theory is commonly associated with the economic effects of minimum wage hikes - these lead (despite all the Corporate Whining) to economic growth because the lowest rungs of society, those actually living on minimum wage, go and immediately spend their additional money, similar to what happened with the Covid stimulus checks, while the upper levels of society hoard additional income and do not directly contribute to economic growth. | ||||||||
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