▲ | monero-xmr 3 days ago | ||||||||||||||||||||||||||||||||||||||||
It increases automation and therefore productivity. It increases the demand for legal unskilled labor. Money earned is spent in America rather than sent to foreign countries as remittances | |||||||||||||||||||||||||||||||||||||||||
▲ | hvb2 3 days ago | parent | next [-] | ||||||||||||||||||||||||||||||||||||||||
Not every job can be automated. Picking crops for example or cleaning hotel rooms. The US will find out the hard way how much of their undesirable work is done by people that "steal their jobs". Jobs that no American wants to do. The UK already has seen this with Brexit https://www.bbc.com/news/business-44230865 | |||||||||||||||||||||||||||||||||||||||||
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▲ | ZYbCRq22HbJ2y7 3 days ago | parent | prev | next [-] | ||||||||||||||||||||||||||||||||||||||||
Reduced labor by executive power doesn't increase automation, it introduces a labor shortage. https://en.wikipedia.org/wiki/Shortage Increased capacity utilizing automation would introduce automation https://en.wikipedia.org/wiki/Productive_capacity Increasing demand doesn't magically necessitate that technological resources sprout from nothing to replace human resources. An introductory macroeconomics source instructs one on this https://www.khanacademy.org/economics-finance-domain/core-fi... | |||||||||||||||||||||||||||||||||||||||||
▲ | margalabargala 3 days ago | parent | prev [-] | ||||||||||||||||||||||||||||||||||||||||
Still, none of that outweighs the inflationary pressure. Increasing automation and therefore productivity means an increase in profits to the owners, not a drop in prices, except in the most competitive industries. Unemployment is already extremely low. There aren't tons of Americans waiting to step into these jobs. If unemployment were 10% that would be a different story, but we're close to full employment. So instead of the jobs going to Americans, the produce rots in the fields, and prices go up. | |||||||||||||||||||||||||||||||||||||||||
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