> Even relatively right wing or libertarian economists like Tyler Cowen consider that the low hanging fruit for most businesses is now gone.
Well Cowen is quite on his own with this possition and even he is arguing that it will pick up again. Read the last chapter of the great stagnation.
Also just having a economy that doesn't grow doens't really have anything to do with jobs. You can have full employment in a economy that is shrinking. The question is about laber market equillibrium, if wages ajust downwards eventually you will have full employment.
> The point is that the poor get "blamed" for needing this money. The market will allow the price of a piece of land with some bricks on it to increase due to demand. But clearly the market can't magically create land.
Well the market can creat land, but the market can creat any natural resource but that does not mean every resource becomes more expensive all the time.
If rents get bigger somebody will have the idea to nock down a small building and build a bigger one. Also the notion that there is a lack of land is strang, specially in america, there if tons of land that is very cheap its just not where most people would want to live.
The market can not creat land but it can creat living space.
Well Cowen is quite on his own with this possition and even he is arguing that it will pick up again. Read the last chapter of the great stagnation.
Also just having a economy that doesn't grow doens't really have anything to do with jobs. You can have full employment in a economy that is shrinking. The question is about laber market equillibrium, if wages ajust downwards eventually you will have full employment.
> The point is that the poor get "blamed" for needing this money. The market will allow the price of a piece of land with some bricks on it to increase due to demand. But clearly the market can't magically create land.
Well the market can creat land, but the market can creat any natural resource but that does not mean every resource becomes more expensive all the time.
If rents get bigger somebody will have the idea to nock down a small building and build a bigger one. Also the notion that there is a lack of land is strang, specially in america, there if tons of land that is very cheap its just not where most people would want to live.
The market can not creat land but it can creat living space.