Economist Voth: Scarce labor and high wages can boost the economy
sebkrier · x · 2026-10-06
Economist Joachim Voth argues that scarce labor and high wages can act as a shot in the arm for the economy—as long as the skills and capital needed to adopt new machinery are in place. He notes this was the playbook of the world's first "Great Escape" from poverty, hunger, and early death, offering a historical, optimistic lens on automation-era labor dynamics.
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