Comment by noosphr
17 hours ago
If you want the neoclassical version:
What happens when there is an oligopoly in the supply of labor?
Same answer. Nothing good for the consumers of labor.
17 hours ago
If you want the neoclassical version:
What happens when there is an oligopoly in the supply of labor?
Same answer. Nothing good for the consumers of labor.
Technological improvements shift supply curves right which is good for consumers.
Ah yes, shinier trinkets while your material reality dissolves (unaffordable housing, childcare, school, poor jobs, poor benefits)! The neoliberal dream.
In a market with perfect competition, which I specifically ruled out by stating that the suppliers of labor from an oligopoly.
Why would you expect technological improvements to only shift supply curves right under perfect competition? I'd also expect it under oligopoly or even monopoly. You also might think there'd be more tech improvement under oligopoly, on Schumpeterian grounds that oligopolists can internalize the benefits of tech research.
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