How “Superstar” Companies And Technology Are Killing The American Worker
We’ve frequently written in recent months about the unintended consequences of politicians meddling in labor markets by setting artificially high minimum wage rates (see “State Minimum Wage Hikes Already Passed Into Law Expected To Cost 2.6 Million Jobs, New Study Finds“). Of course, the combination of higher wages and declining technology costs are wreaking havoc on labor markets as they serve to significantly improve the return on invested capital profile of new labor-replacing capital projects. Here are just a few examples:
There’s the Big Mac ATM…
This post was published at Zero Hedge on Feb 3, 2017.