I don't think people who don't work are going to get to collect the wages of the machines. Somehow, I think the people who make the machines, fix the machines, buy them and then run them will.
You miss the nuance sometimes. The point is these measurements, even if flawed, are constant. Meaning even if flawed they are still showing gains and loses, and gives up the ability for historical comparisons. So for someone like me, U6 or U3 doesn’t really make a difference because I am looking at the gains and loses and doing historical comparisons. Personally, I look at U1 and U3. I’m less concerned with U6 unless there are signs of stagnation or consumers cutting spending. Either or, U6 is in very healthy shape, both on the trend and historically. As you can see here: https://fred.stlouisfed.org/series/U6RATE
I’ve posited that collective bargaining is actually a free market counterbalance for the wage conundrum. When we look at purchasing power, it was the strongest when union participation was the highest.
unions only works to support the union. It’s why UPS pays drivers 100k. it also undermines the need for minimum wage.
We are seeing and living through the technological labor disruption with work from home, shorter work weeks and flexible work schedules. We are collecting benefits by way of improved quality of life/ work life balance.
ok. So you undermined your own argument. Amazon pays 20 and hour while UPS pays 100k and Amazon employees don’t get subsidies but this is unfair. No wonder you became a trump supporter. Your IQ couldn’t handle being a liberal.
Ideally, in the dem utopia, your job goes to China and then some Chinese guy works from his his home there." Yeh, that's awesome.