It seems to me that if many jobs are lost, the Baumol effect in remaining jobs will be that much the weaker, because they won’t have to compete as hard for employees.
That’s a great point. We’ll see.
It seems to me that if many jobs are lost, the Baumol effect in remaining jobs will be that much the weaker, because they won’t have to compete as hard for employees.
That’s a great point. We’ll see.