Aggregate Demand and Supply
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Aggregate Demand and Supply
Factors affecting Aggregate Demand & Supply
Curated by Bruce Fellowes
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Rescooped by Bruce Fellowes from Microeconomics: IB Economics
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Minimum wage rises 'hit profits, not jobs'

Minimum wage rises 'hit profits, not jobs' | Aggregate Demand and Supply | Scoop.it
Prices have risen in some sectors but fears of job losses have been unfounded, a report says.

Via Graham Watson
Graham Watson's curator insight, November 27, 2018 1:15 PM

An interesting reflection on the impact of the minimum wage on employment levels in the UK. The latest research by the Low Pay Commission has suggested that rises in the National Living Wage have eroded profits, rather than hitting jobs.

 

This is because much of the cost of the increase has been passed onto consumers, with the remainder being borne by firms rather than seeing workers laid off. However, another study, by the IFS suggests that the level at which a higher NLW will encourage increased automation is not too far away.

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Scan and go: Co-op shoppers to avoid tills with phone app | Business | The Guardian

Scan and go: Co-op shoppers to avoid tills with phone app | Business | The Guardian | Aggregate Demand and Supply | Scoop.it
Technology expected to be rolled out this summer raises fears for retail jobs
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More than 6m workers fear being replaced by machines – report | Business | The Guardian

More than 6m workers fear being replaced by machines – report | Business | The Guardian | Aggregate Demand and Supply | Scoop.it
Government and trade unions urged to do more for those at risk from new technologies

Via Graham Watson
Graham Watson's curator insight, August 6, 2018 9:17 AM

Substitution or complementarity - that's what this article's about in relation to automation. Again. 

 

Not really news but...it fleshes out some of the reasons why automation is feared, and the need for increased labour mobility.

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Worry less about the march of the robots, more about techno panic | Kenan Malik | Opinion | The Guardian

Worry less about the march of the robots, more about techno panic | Kenan Malik | Opinion | The Guardian | Aggregate Demand and Supply | Scoop.it
An obsession with the threat of technology may well edge us closer to the dystopia we’re so fearful of
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