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Thirty years of a one-child policy has turned China's labor glut into a looming shortage.
The dispute pits the aspirations of manufacturing workers against the economic realities of a national labor glut.
That would add to the ranks of the officially unemployed, causing the jobless rate to rise, perhaps dramatically — unless jobs are being created to absorb the labor glut.
But, after 30 years of its one-child policy, China's labor glut is almost over now—and there's nothing to replace it.
For some on the left, the abolition of birthright citizenship evokes the nightmarish prospect of a labor glut in wealthy countries, the global lowering of wages, and capitalism run amok.
Of course he described a story of a labor glut -- too few positions -- and then blamed the elderly for continuing to work when he wanted them to retire.
Similar(54)
In The Wealth of Nations, Adam Smith used a pin factory to show the wonders of the division of labor, and in our case, new human capital from across the border has freed us up to do even higher value work during a period mostly marked by labor shortages, as opposed to labor gluts.
Paradoxically, in a labor market glutted with young Ph.D. scientists, sharper competition for research grants has sharpened the competition among universities to sign the likeliest winners.
They call the process "opportunistic upskilling," and they have shown that it happens whenever there's a glut of labor.
Powerful forces are affecting the overall global economy, as the world is awash in a glut of labor, goods and energy with little economic growth.
For example, the glut of labor on the world market has debased the value of huge segments of our work force, which has affected not just those whose jobs have been lost, but also those whose pay and prospects are diminished.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com