> They can afford to pay labor more.
Only if they decide to pay shareholders less.
And shareholders are not going to accept getting paid less in order to pay labor more. That's a quick way for CEOs get fired.
Only if they decide to pay shareholders less.
And shareholders are not going to accept getting paid less in order to pay labor more. That's a quick way for CEOs get fired.
You're forgetting the other option they have - invest their money elsewhere.
So instead of having a job that pays $18/hour, there is just no job at all. Is that better?
https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...
By the time robots have replaced large swathes of labor, we will need to consider taxes on automation, which unions will hopefully support.
Do you have any evidence of CEOs being fired by shareholders because workers got a payrise? Starbucks has been handing out payrises of a couple of percent this year but I don't see shareholders firing the CEO. Likewise many other public companies.
https://x.com/RBReich/status/1828187954290008180