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	▲	exceptione 8 hours ago
		`> Why would company pay worker more?` When the worker has bargaining power, i.e. when demand for labor exceeds availability (and if companies don't collude). The big problem for workers here is globalization, which the article goes into as well. `> Also, AI makes workers do more for a less.` The article touches that briefly: `If AI makes workers more productive and workers share in those gains, we get higher wages, better jobs, shorter workweeks, and a richer society. But if AI mostly replace workers with computers — and the gains flow overwhelmingly to the people who own the technology — then the pie gets bigger but most workers won’t gain much (and may even lose).` The million dollar question is of course whether or not AI will devalue labor or whether it will make labor more valuable. Afaik, there is no conclusive evidence for either position.
	▲	paretolaw 6 hours ago \| parent [-]
		> demand for labor exceeds availability Employer monopsony can also produce less with fewer people and keep demand for labor below availability. This will also increase prices due to scarcity of the product. Just give me employer monopsony, government in their pocket, and I will give you N ways to screw the workers. > workers share in those gains Not gonna happen until workers obtain bargaining power and they are working hard to keep it that way. > will it devalue labour or not I agree with Kent Beck here: “The value of 90% of my skills just dropped to $0. The leverage for the remaining 10% went up 1000x.”