Quote:Butting-in: I agree that the labor force is actually a lot looser than it appears in the data. So what? Capitalism is built on maximizing profits, and that may not require anything approaching full employment now or in the future. If unit cost drops dramatically faster than lost sales, even lower volumes may be a net plus. Who in the ownership class really cares that people are struggling to get by? It's not their problem, or so most of them believe. Ask Carl Icahn, DJT's Special Advisor on Regulatory Reform.
Which is precisely why I think that increased infrastructure spending and adjustments in trade and immigration policy could do some good. If you want to try and shove a basic income in there somewhere, fine by me.