When i read the concept about "reserve army of labour" (kinda cringy name ngl) it all clicked, wages can't go up if there is an entire army of unemployed willing to do the same work for less. The demand/supply argument that libertarians like to make is irrelevant when there is a huge supply of unemployed available.
When i read the concept about "reserve army of labour" (kinda cringy name ngl) it all clicked, wages can't go up if there is an entire army of unemployed willing to do the same work for less. The demand/supply argument that libertarians like to make is irrelevant when there is a huge supply of unemployed available.