alt Hacker NewsI disagree. You simply increase the supply of labour by double digit percentage points. Thinking this will not affect the price, all else being equal, is magical thinking.
I disagree. You simply increase the supply of labour by double digit percentage points. Thinking this will not affect the price, all else being equal, is magical thinking.
You're ignoring the other side of the ledger. If the supply of labor increases, but then those people get paid money, then they spend it and create additional demand for labor.
How do you suppose a country with 100 million people can have the same standard of living, if not higher, than a country with 10 million people despite having ten times the supply of labor? Or for that matter that large populous cities can have higher paying jobs than small towns?