Fast food ordering kiosks shouldn’t cause loss of jobs overall.
Say kiosks allow my local McDonald’s to lay off five, thirty thousand dollar a year ($15/hr) workers. Assuming the consumer prices stay the same that makes one hundred thousand dollars a year for the owner and the workers who are left to split (the latter more likely if they have a union).
Newly flush employer and employees in turn spend that money causing in turn (the equivalent of) employing five thirty thousand dollar a year workers somewhere else. Money never stops moving.
But, you say, labor advocates are forever emphasizing that wages are only a fraction of the price of products – ergo, you claim a small price increase can feed a large wage increase (more dollars for fewer hours happens). So, how many jobs can the hundred fifty thousand create?
Let’s take a kid’s lemonade stand. One kid spends all his time hawking his wares; he buys his drink from another kid who spends all his time making lemonade with lemons he buys from a kid who raises and delivers lemons. Think of a pin factory. 🙂
Fast food ordering kiosks shouldn’t cause loss of jobs overall.
Say kiosks allow my local McDonald’s to lay off five, thirty thousand dollar a year ($15/hr) workers. Assuming the consumer prices stay the same that makes one hundred thousand dollars a year for the owner and the workers who are left to split (the latter more likely if they have a union).
Newly flush employer and employees in turn spend that money causing in turn (the equivalent of) employing five thirty thousand dollar a year workers somewhere else. Money never stops moving.
But, you say, labor advocates are forever emphasizing that wages are only a fraction of the price of products – ergo, you claim a small price increase can feed a large wage increase (more dollars for fewer hours happens). So, how many jobs can the hundred fifty thousand create?
Let’s take a kid’s lemonade stand. One kid spends all his time hawking his wares; he buys his drink from another kid who spends all his time making lemonade with lemons he buys from a kid who raises and delivers lemons. Think of a pin factory. 🙂
Hey, PGL.
Do you know what is going on at EV?