Pay them more


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We live in a closed world.

What someone is spending is someone else receiving for the goods and services he is providing. We tend to forget that by decreasing salaries and increasing inequalities, we are not helping companies to thrive / and rich people to get richer. We are just trying to reach a local optimum, the optimum of the shareholders of a specific company at the cost of the global optimum, the one of society at large. In this case, as in many others, the two are not comparable and by reaching the local optimum of each shareholder we cannot reach the optimal society's well-being. Replacing all employees with robots will not help as robots do not spend money, or at least not as much or as broadly. Giving an even larger share of wealth to the rich will also not help as rich people do not spend as a large percentage of their money as less rich ones. 

Not finding employees is a sure sign that salaries are too low or your borders are too closed. 

 

Editor
I am the editor of the Open-borders magazine. I have also written Dictatorship of Experts.