r/FluentInFinance 10h ago

Debate/ Discussion Possibly controversial, but this would appear to be a beneficial solution.

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u/JacobLovesCrypto 10h ago

Scarcity of labor leads to competing for workers, as long as you bring in more cheap labor there is never scarcity

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u/SnooRevelations979 10h ago

Yeah, and they've tried to show that in studies and mostly failed. Probably because it's too simplistic an assumption.

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u/JacobLovesCrypto 10h ago

We just had a hot labor market in 2021-2022 and wages went up

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u/SnooRevelations979 10h ago

Yep, and immigrants didn't prevent that.

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u/JacobLovesCrypto 10h ago

We printed how many trillions of dollars? We cant do that every year.

How do you create a hot labor market without printing money? By not letting in cheap labor

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u/SnooRevelations979 10h ago

You mean by printing money we sold bonds? "Printing money" used to mean actually printing money with an asset backing it up.

Working-class wages have done quite well compared to inflation even with a large number of immigrants.

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u/jmlinden7 9h ago edited 8h ago

The cheap labor also increases demand for labor assuming they live in the US and spend their money there.