The Dig: Next Shift w/ Gabriel Winant
Jacobin Radio
00:00
Why Is the Service Sector Inherently Low Productivity and Thus Low Unemployment?
In post industrial societies, policy makers must choose two of three desirable outcomes. This choice emerges from the low productivity and non tradable characteristics of service work. To achieve low unemployment, wages must be driven down for the private sector to create jobs. The public sector can absorb the service economy in asing wages, but inflating public deficits. It is not like a steady increase in productivity that you basely would need the substitution of capital for labor to achieve.
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